Natural catastrophes (Nat Cats)
Capital adequacy: Alternative finance
With Solvency II just 12 months away, and 2011 an unprecedented catastrophe year, how difficult will it be for insurers to attract equity or secure alternative funding?
Thai cat fund given green light by regulator
The Office of Insurance Commision, Thailand’s insurance regulator, has passed a resolution to establish a 50bn baht (€1.2bn) catastrophe fund for floods, windstorms and earthquakes.
Swiss Re warns quakes remain underinsured
Swiss Re has described the cumulative effects of earthquakes over the past two years as “overwhelming” but says the world’s worst affected areas remain underinsured.
Firms underestimate cyber risk, according to Allianz survey
Economic risks, business interruption and destructive natural catastrophes are among the biggest risks to companies in 2012, according to a study conducted by Alianz Global Corporate & Specialty.
Australian disaster claims total A$5bn
Australia’s eight natural disasters in 2011 cost general insurers approximately A$5bn (£3.4bn) – more than double the 2010 figure, the Insurance Council of Australia reports.
Reinsurance trade groups warn against protectionist regulation
A coalition of reinsurance trade groups has pointed to the record 2011 global insured natural catastrophe losses as a warning sign as to why protectionist reinsurance regulation will backfire in jurisdictions that try to impose limits on global risk…
QBE expects 40% drop in profits after tax
Australia-based general insurer QBE expects its profits after tax for 2011 to be down 40% to 50% on the previous year.
Insurers reveal Thai flood losses
Bermuda-based Arch Capital Group has said it expects the company’s 2011 fourth quarter results to be negatively impacted by the severe flooding in Thailand.
Catastrophes could halve QBE profits
QBE has warned its profit margin could be cut in half by catastrophe claims.
XL may have $185m Thai flood claims
Insurer XL has said its preliminary net loss estimates from the Thailand floods could be as much as $185m.
Roundtable - Analytics: the true value of quality data
As investment in analytics increases, Post gathered a group of experts to debate the rise in the use of data in all areas of the insurance industry.
Mixed 2012 renewals for global reinsurance market
The 1 January 2012 renewals saw a shift in industry behaviour as both insurers and reinsurers implemented more sophisticated, customised approaches to risk assessment and mitigation, according to Guy Carpenter.
Guy Carpenter renewals report identifies shift in industry behaviour
The position by reinsurers to undertake a major review of pricing and underwriting heading into renewal season has led to “significant market fragmentation and increased volatility”, according to Guy Carpenter’s 2012 global reinsurance outlook.
Cat losses for 2011 second highest on record
Total insured natural catastrophe losses of $107bn (£69bn) in 2011 were the second highest on record - surpassed only by the 2005 total of $120bn.
AM Best: Reinsurance market "stable"
The reinsurance market remains stable despite “numerous challenges”, according to A.M. Best.
Travellers urged to consider ash cover after Etna eruption
Fears of a repeat of 2010’s travel chaos have surfaced after Europe’s highest volcano Mount Etna, began erupting over the weekend, ejecting lava and ash into the air.
Ironshore launches new environmental products for Europe
Dublin-based insurer Ironshore Europe has launched a suite of environmental products for the European market.
Clustering seen as Windstorm Andrea follows hot on Ulli's heels
Windstorm Andrea passed through the UK earlier last week, fast on the heels of Windstorm Ulli, which brought widespread travel and power disruptions to Scotland.
A windstorm for the insurance market
As the market gradually starts to digest the recent European renewals, Francesca Nyman considers the increasing challenge that European windstorms pose and whether insurers are adequately protected against this risk.
Natural Catastrophes poll
The sequence of earthquakes and large number of weather-related catastrophes have led some insurers to brand 2011 the costliest year ever in terms of natural catastrophes.
Windstorm Ulli expected to hit Scandanavia then dissipate
Windstorm Ulli is passing through Scandinavia and is expected to dissipate as it moves over the Baltic Sea today.
No widescale rate hardening at 1/1 renewals
The 1 January reinsurance renewal season has seen large rate increases in catastrophe-exposed and loss-affected contracts, but there has not been wide market hardening.
News analysis: Lloyd’s CEO Ward outlines diversity message with ambitious three-year plan
The start of every New Year is inevitably accompanied by the desire to deliver on resolutions made the month before — and Lloyd’s is no different.
Nat-cats make 2011 the costliest year ever
A sequence of devastating earthquakes and a large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses, Munich Re’s annual natural catastrophe review has found.