Tag: catastrophe insurance

March 16, 2023

U.S. primary insurer Allstate has announced estimated catastrophe losses for February of $211 million or $167 million, after tax. Catastrophe losses for February events were estimated at $241 million, and related to nine events primarily from wind and rain that […]

November 12, 2021

United Insurance Holdings Corp. (UPC Insurance), the Florida headquartered but regionally expansive insurer, has reported a narrower net loss for the third quarter of 2021, while its premium base continues to decline amid a retreat from the catastrophe space. A […]

November 8, 2021

The reinsurance business of Warren Buffet-owned holding company Berkshire Hathaway has announced $1.5 billion in catastrophe-driven losses and loss provisions for 2021’s third quarter, a figure that rises the firm’s overall losses and loss adjustment expenses by $442 million against […]

October 12, 2021

Arch Capital Group, the Bermuda headquartered specialty insurance and reinsurance company, has pre-announced an estimated up to $345 million of catastrophe losses for the third-quarter, which it has based on an expected industry loss burden of at least $47 billion. […]

May 17, 2021

Despite April being a quieter month globally for insurance and reinsurance market losses caused by natural catastrophes and severe weather, analysts at investment bank Jefferies still estimate that claims year-to-date are running approximately 30% above average. After the first-quarter of […]

April 28, 2021

In reporting its first-quarter results late yesterday, global insurance and reinsurance giant Chubb revealed a $700 million pre-tax hit from catastrophe events, $657 million of which came from US storms. While Chubb’s P&C combined ratio was up slightly at 91.8%, […]

April 26, 2021

So far in 2021, global insurance and reinsurance market losses from natural catastrophes and severe weather are estimated to be running some 33% higher than the 10-year average, by analysts at investment bank Jefferies. The majority of the catastrophe loss […]

April 20, 2021

U.S. primary insurance carrier Travelers has reported what its CEO Alan Schnitzer calls its “highest-ever level of first quarter catastrophe losses”, which it appears are largely due to the US winter storms. Travelers doesn’t break out its losses from February’s […]

April 19, 2021

Despite still being less than four months through the year, issuance of new catastrophe bonds and other related insurance-linked securities (ILS) we track here at Artemis is already approaching $6 billion in 2021. Issuance of catastrophe bonds has continued apace […]

April 15, 2021

AXIS Capital, the Bermuda-based, globally-active insurance and reinsurance company, has pre-announced an expectation that it will shoulder up to $90 million of losses after February’s US winter storms, which it bases on an expected industry-wide loss of between $13 billion […]

April 13, 2021

The Governments of Saint Vincent and the Grenadines have received $20 million in disaster risk financing support from the World Bank to aid their recovery from the recent eruption of the La Soufrière volcano, after a catastrophe contingent line of […]

March 30, 2021

Overall insured loss estimates from global natural catastrophes in 2020 totalled $78 billion, significantly higher than the $53 billion in 2019, according to a Willis Re report. In the US, there were 22 events in 2020 that exceeded $1 billion, […]

March 29, 2021

At the upcoming mid-year reinsurance renewals our sources suggest there could be increased demand for reinsurance protection coming out of Florida, despite the delicate financial position of many insurance carriers focused on the state. The twin effects of another year […]

March 18, 2021

US primary insurer Allstate has revealed a significant approximately $1.3 billion gross loss from the winter storms and severe winter freeze, primarily impacting Texas, which it warns mean its aggregate reinsurance will trigger, which is provided by its Sanders Re […]

March 8, 2021

Hong Kong’s proposed insurance-linked securities (ILS) grant scheme, that will pay a share of issuance costs for catastrophe bond sponsors electing to use the domicile once its ILS regulatory regime is ready, is seen as an initiative to enhance the […]

March 8, 2021

After seeing their prices drop significantly in the wake of the US winter storms and severe freezing weather, a number of the exposed aggregate catastrophe bond tranches have now experienced a meaningful price recovery in the latest cat bond secondary […]

March 1, 2021

Secondary market prices have dropped for some catastrophe bonds in the wake of recent severe winter storm losses in the United States, with aggregate Residential Re cat bonds, sponsored by primary military mutual insurer USAA, the names in investor focus. […]

February 18, 2021

Universal Insurance Holdings, the Florida headquartered and expansive primary insurance carrier, has announced that it expects to incur a total net impact of $76.0 million due to catastrophe losses in Q4. This figure ($57.7 million after-tax) covers estimated weather events […]

February 11, 2021

Primary insurer Cincinnati Financial improved its property casualty combined ratio to 87.3% in the fourth quarter of 2020, despite incurring higher than average catastrophe losses. The combined ratio improved by 4.3 points from 91.6% in Q4 2019, while underwriting profit […]

February 9, 2021

The catastrophe bond market saw robust activity last year as new sponsors and tightening retrocessional reinsurance capacity helped buoy the sector, and the trend is expected to continue. Both the 2020 top line issuance of $11 billion of property cat […]