Natural catastrophes (Nat Cats)
Reinsurers back Zurich quake bond
Munich Re and Swiss Re have acted as joint lead structuring agents in a $270m (£166m) catastrophe bond transaction that transfers North American earthquake risk to the capital markets, on behalf of Zurich Insurance Group.
US nat cats push global insured losses above 10-year average
Munich Re has called for greater loss prevention measures to be taken in the US, which saw 90% of worldwide insured losses in 2012.
Prices mostly stable at January reinsurance renewals
January 2013 reinsurance renewals took place against a stable backdrop, with only loss-affected lines and select regions experiencing price volatility, according to Guy Carpenter.
Insured losses exceed $50bn in 2012
The reinsurance sector is "equipped with ample dedicated capital and stable pricing" as it enters 2013, according to Guy Carpenter.
Superstorm Sandy puts downwards pricing pressure on reinsurers
Natural catastrophe losses for 2012 are estimated to be 50% less than 2011's $120bn, and most reinsurers are not facing any material capital impact and remain within annual catastrophe budgets.
Industry cat losses to hit $65m in 2012, says Swiss Re
Insured losses from natural catastrophes and man-made disasters will reach approximately $65m in 2012, according to Swiss Re.
Asia View from the Top: Speciality lines drive growth
The economy remains strong across much of Asia, and the World Bank predicts growth of 7.6% in the region in 2013.
Superstorm Sandy to cost Catlin £124m
Catlin estimates that its losses from the storm will be $200m (£124m), net of reinsurance and reinstatements.
Post Blog: Business interrupted
What can previous catastrophes tell us about the business interruption landscape following superstorm Sandy? Amy Lacey explains.
European outlook 'significantly negative', says EIOPA
The financial stability of the European economy remains fragile, despite coordinated political efforts and actions taken by the European Central Bank.
Asian flood deaths down but losses increasing
Mortality from Asian flood events continues to decline but economic losses remain a major cause of concern, according to data from the United Nations Office for Disaster Risk Reduction.
Magnitude 7.3 quake hits coast of Japan
A magnitude 7.3 earthquake struck the north-east coast of Japan on Friday, triggering a 1m tsunami.
Magnitude 7.3 quake felt in Tokyo
An earthquake measuring 7.3 on the Richter scale has struck off the north-east coast of Japan.
Deutsche Bank director joins XL
Former Deutsche Bank director Craig Wenzel has joined XL's reinsurance operations as senior vice president of capital markets.
Rise of the Dragon: challenges and opportunities in the Chinese insurance broking markets
Brokers in the Chinese market currently face threats from technology and opportunities from product differentiation. Solomon Ngan explains why now is the time for the sector to reconsider its role and function.
Premier Inn opens doors to flood victims
The Insurance Claims Accommodation Bureau has bolstered its database of preferred properties nationwide by forming an alliance with hotel group Premier Inn.
Top five Asian news stories
The top five stories from www.insuranceinsight.com over the past seven days.
NY governor demands quicker Sandy response from insurers
New York governor Andrew Cuomo has ordered loss adjusters to visit properties damaged by super storm Sandy within six business days instead of 15.
UK report highlights role of modelling in disaster risk reduction
A UK government report has urged the disaster risk reduction sector to emulate the insurance industry and increase its deployment of science-based risk models.
Floods hit southeast as storms move north
Around 816 homes were flooded and two people died over the weekend after the country was hit with a deluge of rain.
Sandy to cost Swiss Re $900m
Swiss Re has estimated that its claims burden from superstorm Sandy will cost $900m, net of retrocession and before tax.
Contractors body loses £26m in Lloyd's syndicate investment
The Electrical Contractors' Association has lost around £26m after investing in a Lloyd's of London syndicate.
S&P: Sandy to hit earnings not capital
Superstorm Sandy is likely to be an earnings rather than a capital event for affected insurers and reinsurers, according to rating agency Standard & Poor's.