Catastrophe loss data aggregator Perils has issued a second loss estimate for hailstorms that struck Sydney in December last year of A$633mn ($449mn) - relatively unchanged from its initial estimate.
Total claims from Typhoon Jebi look set to rise beyond $10bn, with much of the loss creep above the $7bn mark picked up by reinsurers, according to underwriting sources.
The severe weather that covered a wide swathe of central and eastern US in late February killed at least four people and is likely to cause insured losses in the hundreds of millions of dollars.
The crash of an Ethiopian Airlines Boeing 737 airliner, which killed all passengers and crew, is likely to be a $50mn-$60mn hull loss for the aviation market.
The offshore wind generation industry continues to be plagued by problems with subsea cabling, with claims for such issues comprising up to 65 percent of total insured losses for the sector, Inside FAC has learned.
Hannover Re’s property and casualty (P&C) reinsurance division suffered a 38.5 percent drop in fourth quarter operating profits, year on year, to EUR319mn, following significant catastrophe losses.
US utility firm Pacific Gas & Electric (PG&E) admitted in a press release on 28 February that it was “probable that its equipment will be determined to be an ignition point of the 2018 Camp Fire”.
The energy construction market is anticipating a loss of at least AS$2bn ($1.42bn) after the operator of one of the world’s largest energy projects filed two separate claims on its erection all-risks (EAR) policy.
A cargo plane leased by Amazon which crashed on approach to George Bush International Airport in Houston, Texas is expected to be a $43mn loss to the aviation market.
Scor’s Global P&C division suffered a 24.3 point hit to its combined ratio for the fourth quarter of 2018, as the segment reported an operating loss of EUR83mn ($94.1mn) for the same period.
Loss creep associated with hurricanes Harvey, Irma and Maria (HIM) took total insured catastrophe costs for 2018 “significantly higher” than the headline figure of $80bn, according to JLT Re.
The cargo market has reined in the expected loss it is facing from a fire in a warehouse belonging to US luxury retail store chain Macy’s in November last year.
- Load More ...