Hurricanes
Willis: Cat bonds hit a new high in 2012 with 37% increase
Last year saw the second highest level of catastrophe bond issuance on record signalling strong growth in the market, according to Willis Capital Markets & Advisory.
Sandy leaves Allianz operating profit outlook unchanged
Allianz has estimated that Hurricane Sandy, which hit the north eastern coast of the United States in late October 2012, has had an estimated total impact of $590m.
Legal forecasts: Predictions for the UAE, US and Germany for 2013
In the first of a two-part series Insurance Insight asked members of Insuralex, the global group of specialist insurance and reinsurance lawyers, to highlight their thoughts and predictions for the new year.
Sandy loss "comfortably" within budget, says Hannover Re
Losses arising from Superstorm Sandy are within Hannover Re's major loss budget for 2012 after the firm estimated a €261m net burden of loss from last October's storm.
Lloyd's reveals Superstorm Sandy claims could hit $2.5bn
Lloyd's has announced today that its estimated net claims before tax from Superstorm Sandy are between $2bn and $2.5bn.
Swiss Re expecting $900m hit from Superstorm Sandy
Swiss Re is expecting its claims burden from Hurricane Sandy to be around $900m, net of retrocession and before tax.
Superstorm Sandy: direct wind not to blame for buildings damage
Damage from storm surge and flooding caused by superstorm Sandy is widespread and extensive, but there is only minor damage to buildings from direct wind, according to a report released today by Willis Re.
Catlin GWP grows 11% as Sandy-hit New York office remains closed
Catlin reported an 11% increase in gross written premium to $4.08bn in the nine months to 30 September 2012 compared with the same period in 2011 (9m 2011: $3.68bn).
Editor's comment: Testing our mettle
US voters were still heading to the polls as Post went to press. But with many north eastern states operating makeshift polling stations and still without electricity a week after superstorm Sandy made landfall, the closely fought election was shaping up…
Munich Re expects "mid three-digit million euro" Sandy hit
Munich Re expects its share of the losses from superstorm Sandy to be in the "mid three-digit million" euro range, based on primary estimates, but remains optimistic of achieving a €3bn profit for the 2012 financial year.
Munich Re estimates Sandy losses close to £400m
Munich Re has estimated its share of the losses from superstorm Sandy at the "mid three-digit million" euro range, despite the high number of individual losses making it difficult to assess the extent of the damage.
Second storm system set to hit New Jersey and New York
More US east coast disruption expected to hamper recovery efforts following superstorm Sandy.
Swiss Re obtains hurricane and mortality risks in industry first
Swiss Re has obtained $200m in coverage against North Atlantic hurricane and UK extreme mortality risk through its Mythen Re programme.
Too early for Sandy loss estimates, says Hiscox
Hiscox chief executive Bronek Masojada has refused to be drawn on loss estimates following the release of the insurer's results for the nine months ending 30 September.
Earnings in 2012 to boost insurers' resilience to Sandy, says S&P
Strong results to date in 2012 are likely to cushion the impact of Sandy on insurers and reinsurers, according to ratings agency Standard and Poor's.
Cyclone Nilam makes landfall near Chennai
Tropical cyclone Nilam, the second named cyclone of the 2012 North Indian Ocean cyclone season, made landfall in the Indian state of Tamil Nadu at about 4.30pm local time on Wednesday with maximum wind speeds of 80km-90km per hour, according to…
Firms unprepared for Sandy BI losses, Willis' Texeira warns
Hurricane Sandy could cost insurers between $5bn and $10bn, according to a report in The Wall Street Journal, while Bloomberg reports that the hurricane's toll is poised to cause $20bn worth of "economic damage".
Caribbean cat risk report issued on Sandy
The Caribbean Catastrophe Risk Insurance Facility has issued a risk report after two of its members, Jamaica and the Bahamas, were hit by tropical cyclone Sandy.
Sandy could cost insurers $15bn
Insured losses from storm Sandy to properties in the US are expected to be between $7bn and $15bn, according to catastrophe modeling firm AIR Worldwide.
"Largest Atlantic hurricane on record" could bring losses of up to $15bn, warns AIR
Insured losses from Sandy to onshore properties in the US will be between $7bn and $15bn, AIR Worldwide has estimated.
Sandy heading for Pennsylvania and Canada
After making landfall on the east coast on Monday night, post-tropical cyclone Sandy is forecast to head towards Canada via Pennsylvania and New York State.
Sandy wreaks havoc in New York subway
The New York subway faces unprecedented challenges after flooding caused by post-tropical cyclone Sandy.
Law firm warns of Sandy coverage gaps
Insurers may struggle to define causes of damage following Sandy's landfall in New York, while the duration of the storm could limit reinsurance cover.
Post Claims Club chairman's monthly missive: Grease, avocets and penguins
Given the time of year, surge plans are at the forefront of claims professionals' minds. However, baby names have been at the top of my agenda.