Tag: catastrophe losses

October 15, 2021

AXIS Capital Holdings Limited, the Bermuda headquartered global specialty insurance and treaty reinsurance writer, has estimated that catastrophe losses from the third-quarter of 2021 will cost the company around $250 million, before tax ($219 million, after-tax). The main contributor to […]

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. […]

October 7, 2021

U.S. property and casualty insurance company, RLI Corp., has pre-announced estimated pre-tax catastrophe losses of between USD 30 million and USD 35 million for the third-quarter of 2021. RLI is scheduled to release its third-quarter 2021 financials after the market […]

September 16, 2021

Analysts at Berenberg believe that hardening market conditions will continue through into 2022, as reinsurers seek to earn returns above their cost of capital in the face of ultra-low interest rates, social and cost inflation as well as a prolonged […]

July 20, 2021

The Travelers Companies, Inc. has reported a significantly improved net income of $934 million for the second-quarter of 2021 on the back of lower catastrophe losses, favourable reserve development, and a vastly improved investment result. Net income of $934 million […]

July 13, 2021

A relatively benign second quarter for global catastrophe losses will have been some good news for insurance, reinsurance and insurance-linked securities (ILS) interests after a challenging few years of losses. Analysts at RBC Capital Markets estimate that natural catastrophe losses […]

June 14, 2021

Year-to-date, catastrophe claims look to be running 17% above the long-term average (2008-2020), leading analysts at Jefferies to forecast another difficult year for the global insurance industry. At more than $30 billion, YTD insured catastrophe losses also exceed the 10-year […]

June 2, 2021

US property and casualty re/insurers are reportedly braced for large potential catastrophe losses as another above-average hurricane season approaches, according to a new Fitch Ratings report. Fitch notes how both P/C insurers and global reinsurers are largely well capitalised following […]

May 20, 2021

US primary insurance carrier Allstate has reported $544 million of net catastrophe losses, largely caused by April’s severe US convective weather and hail storms, as well as some loss creep on previous events. The insurer said that the $544 million […]

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 […]

May 7, 2021

American International Group (AIG) reported strong underwriting and investment results in in its General Insurance and its Life and Retirement divisions, despite catastrophe losses from winter storms and Covid-19 mortality claims. For the first quarter, net income was $3.9 billion […]

April 29, 2021

Once again a large hail storm event looks set to drive at least economic losses towards the billion dollar mark, perhaps insurance and reinsurance market losses too. Last night, areas of Oklahoma and Texas experienced severe convective storms that drove […]

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 […]

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 2, 2021

Catastrophe losses covered by insurance and reinsurance reached $78 billion in 2020 according to Willis Re, which the broker sees as 17% above the 10-year average. The reinsurance broking arm of Willis Towers Watson (WTW) notes that the figure could […]

January 25, 2021

Re/insurance broker Aon has estimated that catastrophe losses insured by the private sector or by government-sponsored programs totalled $97 billion over 2020. Overall economic losses were estimated at $268 billion, caused by 416 catastrophe events, leaving a protection gap of […]