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insurance penetration

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2016 earthquake in central Italy estimated to cost 108 million euros in property losses: PERILS

August 24, 2017 by Canadian Underwriter

The magnitude 6.0 earthquake that struck central Italy exactly one year ago is estimated to have cost 108 million euros, PERILS AG has reported. PERILS, the independent Zurich-based organization providing industry-wide catastrophe insurance data, disclosed its final loss estimate for

News CatastrophesClimate ChangeInsuranceMergers and AqcuisitionsReinsurance

Global insured losses from disasters up 42%, economic losses almost double in 2016 over 2015: Swiss Re

March 28, 2017 by Canadian Underwriter

Both economic and insured losses from natural catastrophes and man-made disasters in 2016 were the highest since 2012 – reversing a four-year downtrend – amounting to US$54 billion and US$175 billion, respectively, notes the latest sigma study from the Swiss

News CatastrophesClimate ChangeInsuranceMarkets / CoveragesMergers and Aqcuisitions

Economic losses from nat cat events in 2016 total US$210 billion, the highest loss amount in four years: Aon Benfield

January 17, 2017 by Canadian Underwriter

Three hundred and fifteen natural catastrophe events in 2016 generated economic losses of US$210 billion, the highest loss amount in four years and 21% above the 16-average of US$174 billion, according to Aon Benfield’s 2016 Annual Global Climate and Catastrophe

News Earnings / RatingsInsuranceLegislation / RegulationMarkets / CoveragesMergers and AqcuisitionsReinsurance

Europe’s insurers paid out 2.7 billion euros a day in 2015: Insurance Europe

December 20, 2016 by Canadian Underwriter

Europe’s insurers paid out a total of 975 billion euros in claims and benefits over the course of 2015, the equivalent of about 2.7 billion euros per day, according to figures released on Tuesday by Insurance Europe, the European insurance

News CatastrophesInsuranceMergers and Aqcuisitions

Slow-moving Hurricane Matthew expected to make landfall in Haiti on Tuesday as Category 4 storm

October 4, 2016 by Canadian Underwriter

Slow-moving Hurricane Matthew is forecast to make landfall on Haiti’s Tiburon Peninsula around midday on Tuesday as a Category 4 storm, according to the National Hurricane Center (NHC). As one of the most powerful North Atlantic hurricanes in recent history

News CatastrophesInsuranceMergers and Aqcuisitions

Insured losses in mainland China from Typhoon Meranti between US$650 million and US$1.15 billion: AIR

September 30, 2016 by Canadian Underwriter

Catastrophe modelling firm AIR Worldwide is estimating insured losses in mainland China from Typhoon Meranti earlier this month at between US$650 million and US$1.15 billion. Typhoon Meranti experienced rapid intensification on Sept. 11-12, with wind speed increasing more than 150

News CatastrophesConstructionInsuranceMergers and AqcuisitionsReinsurance

“Limited impact” expected for Italian insurers following earthquake: Fitch

August 29, 2016 by Canadian Underwriter

The impact on Italian insurers from the earthquake that struck the central part of the country is likely to be limited, ratings firm Fitch Ratings said on Friday. Fitch Ratings estimates insured losses of 100 million to 200 million euros,

News CatastrophesClimate ChangeInsuranceMergers and Aqcuisitions

Louisiana flooding “one of the most significant” natural disasters since Superstorm Sandy, 40,000-60,000 properties affected: RMS

August 19, 2016 by Canadian Underwriter

Flooding in Louisiana is “one of the most significant U.S. natural disasters, let alone flood events, since Superstorm Sandy” in 2012, Risk Management Solutions, Inc. (RMS) said on Friday. Heavy rainfall since Friday, Aug. 12 has caused widespread riverine flooding