Storm Eunice

Perils increases February European storm loss estimate to €3.74bn

2022-08-19T06:55:00+01:00

Loss aggregator Perils has disclosed its third loss estimate for the European windstorms which affected the British Isles and Continental Europe from 16-21 February 2022, pegging insured losses at €3.739bn ($3.77bn).

Allstate

Allstate hit with $223mn cat losses in July

2022-08-18T14:04:00+01:00

Allstate has estimated its catastrophe losses for July at $223mn, including claims from 12 events, with the personal lines giant also revealing it implemented auto rate increases of 8.9 percent across six locations during the month.

Credit Suisse Greensill

Credit Suisse files 18 insurance claims worth $2.2bn linked to Greensill funds

2022-08-17T14:04:00+01:00

Credit Suisse Asset Management (CSAM) has now filed 18 claims against undisclosed insurers in relation to the liquidation of its Greensill-linked funds, amounting to exposures of approximately $2.2bn across two supply chain finance funds (SCFFs).

IM-IRB-Brasil

IRB: Crop losses from Brazil drought go through retro protections

2022-08-16T20:31:00+01:00

IRB Brasil Re’s exposure to the devastating drought that has hit the southern part of Brazil is at a level where its losses have gone through the top of its retrocession protection, the company’s management confirmed on its Q2 results call.

ICA

ICA ups Victoria storm losses to A$310mn

2022-08-08T06:44:00+01:00

The Insurance Council of Australia (ICA) has released an updated loss estimate of A$310.4mn ($221.9mn) for the severe storms and flooding that hit the state of Victoria in July last year.

Aon St Louis floods

Aon: $1bn+ economic losses expected from Missouri, Kansas floods

2022-08-05T14:46:00+01:00

Economic losses from rainfall and subsequent flooding in Missouri and Kentucky from 25-28 July are estimated to exceed $1bn, according to Aon’s Impact Forecasting unit, with a “sizeable portion” of residential and commercial damage expected to be uninsured. 

Axa XL Ukraine

Axa XL: “Extremely few” Russia-Ukraine claims received to date

2022-08-03T16:09:00+01:00

Axa XL has to date received “extremely few claims” related to the Russia-Ukraine conflict, Axa CFO Alban de Mailly Nesle told analysts during the group’s first-half earnings call.

Louisiana flood – Ida

LDI: Insurer Ida payments up to $13.1bn in Louisiana

2022-08-03T14:19:00+01:00

Insurers have paid or reserved $13.1bn for all types of Hurricane Ida-related claims in Louisiana through 30 June, the state’s insurance commissioner Jim Donelon has announced, up from $12.1bn at the end of the first quarter.

ICA Australia floods 2022

East Coast flood payouts top A$2bn: ICA

2022-08-01T07:08:00+01:00

More than A$2bn ($1.4bn) has already been paid by insurers to customers affected by the February/March floods in southeast Queensland and New South Wales, making it Australia’s second costliest weather event in history.

Munich Re – natural disasters

Munich Re pegs H1 nat cat losses at $34bn and warns climate change “becoming ever more evident”

2022-07-28T10:19:00+01:00

Munich Re’s chief climate scientist Ernst Rauch has said the “powerful influence of climate change is becoming ever more evident” after the reinsurer estimated H1 industry natural catastrophe losses at around $34bn.

Nordak Insurance Company

North Dakota-based NI Holdings reveals $49mn Q2 cat hit

2022-07-25T14:18:00+01:00

NI Holdings, the listed North Dakota business corporation that serves as holding company of Nodak Insurance Company, has announced pre-tax second quarter catastrophe losses of $49mn, net of reinsurance.

Insurance Council of Australia

ICA: Flood resilience plan is “welcome first step”

2022-07-25T14:52:00+01:00

The Insurance Council of Australia (ICA) has welcomed the pledge by New South Wales opposition leader Chris Minns to invest A$225mn, if elected, to improve the resiliency of Western Sydney to flooding.

IM-AllState

Allstate hit with $408mn reserve charge, $1.1bn in cats in Q2

2022-07-20T21:48:00+01:00

Allstate said on Wednesday it is set to report an underwriting loss when it announces second quarter results next month, which are expected to include a $408mn auto-driven prior-year reserve charge hit and $1.1bn in natural catastrophe losses.

Aon

Aon estimates H1 nat cat insured losses at $39bn but warns damage bill likely to rise

2022-07-20T15:52:00+01:00

Severe convective storm events (SCS) in the US and Europe accounted for more than half of the $39bn in global insured losses recorded in the first-half of the year, according to preliminary analysis by Aon.

Sydney flood – 4th July, 2022

ICA estimate for Sydney floods creeps up to A$155mn

2022-07-18T06:27:00+01:00

Insurers have received 13,271 claims related to the flooding which has impacted Sydney and surrounding parts of New South Wales since 1 July, according to the Insurance Council of Australia (ICA).

Munich Re

Munich Re expects Russia lessor losses to fall on aviation war market

2022-07-14T11:44:00+01:00

Munich Re’s management expects exclusions on all-risk policies to result in any Russia-related aircraft lessor losses falling on the aviation war market.

France hailstorm

European XoL treaties set to be triggered as French hail bill soars

2022-07-14T07:29:00+01:00

The lower layers of French cedants’ catastrophe excess of loss (XoL) reinsurance programs are thought to be exposed to losses from two major hailstorms that struck the country during the second quarter, triggering claims of €3.9bn, The Insurer understands.

IM-HoraceMann-Springfield-Illinois

Horace Mann reveals $44mn-$47mn Q2 cat hit and lowers FY earnings guidance

2022-07-13T23:19:00+01:00

Horace Mann Educators Corporation’s Q2 2022 results will include an expected $44mn to $47mn hit from catastrophes while the educators and school employees insurer has told investors that the losses combined with inflationary impacts means that its full year property and casualty (P&C) core earnings guidance has been revised downwards.

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