Aon says Carr fire losses will top $100mnEconomic losses stemming from the Carr wildfire that has ravaged parts of California in recent days are expected to exceed $100mn, according to estimates by Aon.
The Hartford’s talcum powder liabilities excluded from Nico $1.5bn ADCBerkshire Hathaway has excluded talcum powder-related exposures from the $1.5bn adverse development cover (ADC) it struck with The Hartford in late 2016.
Greenberg downplays impact of asbestos talcum powder risk for industryThe chief executive of Chubb, Evan Greenberg, has talked down the potential impact that new asbestos claims stemming from talcum powder use could have on the insurance industry.
(Re)insurers will be 'pulled in' to opioid crisis(Re)insurers will inevitably be drawn in to impending litigation from the ongoing opioid epidemic in the US, according to the CEO of the blue-chip specialty insurance group, WR Berkley.
Everest Re shares fall after $250mn reserve chargeShares in Everest Re fell by more than 6 percent in early trading on the New York Stock Exchange after the Bermudian revealed it was under-reserved for last year’s hurricanes.
Irma’s tail will lash more than just Everest ReLast month, an industry investor toured Florida and met the senior management of a number of listed Florida insurers.
Everest Re takes further $250mn hit from 2017 catsShares in NYSE-listed Everest Re may come under selling pressure later today after the Bermudian reinsurer said it would take a $250mn after tax charge to bolster reserves from last year’s catastrophes.
Allstate hit with $417mn cat bill in JuneUS insurance giant Allstate suffered $417mn in catastrophe losses last month mainly stemming from severe hail storms.
Perils ups Friederike estimate againEuropean catastrophe data provider Perils has again increased its loss estimate for extratropical cyclone Friederike, this time to EUR1.68bn ($1.97bn).
Light cat losses expected to fuel strong Q2 earningsA comparative reprieve from heavy catastrophe losses in the second quarter is expected to bolster carriers’ earnings for the period.
Insured nat cat losses down a third in 2018Insured losses stemming from natural catastrophes in the first half of 2018 were down a third compared to the first six months of 2017, according to Munich Re.
US storms expected to cost insurers $3bnSevere thunderstorms in the month of June have led to over $3bn of insured losses, according to estimates by Aon.
Japanese flood losses likely to top $1bnEconomic losses from flash floods and mudslides that have devastated parts of southern Japan in the past two weeks are likely to exceed $1bn, according to an early estimate from Aon.
US cyber loss ratio shrinks in 2017 despite $275mn Merck lossDespite 2017 witnessing the industry’s largest ever insured cyber loss at $275mn, it was a banner year for US cyber underwriters with a combined ratio of only 61.4 percent and aggregate premiums climbing to at least $1.84bn.
Merck $275mn loss tops league table of insured cyber eventsRe-Insurance.com’s revelation earlier this week that Merck may still look to recoup hundreds of millions of dollars of cyber losses from insurers on its $1.75bn property program would see the bill for the US pharmaceutical firm’s NotPetya hit dwarf any other insured cyber loss.
CCRIF to remain parametric ‘for now’; launching new productsThe chief executive of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) has dispelled speculation that the organisation is moving away from parametric triggers while confirming it is close to launching new products.
AmTrust shutters its Lloyd’s marine bookAmTrust has jettisoned its Lloyd’s marine business - which is thought to be worth up to £30mn ($39.9mn) - in a shock decision announced earlier this week, re-Insurance.com can reveal.
Gard faces P&I loss from Rotterdam port spillNorwegian P&I club Gard could be on the hook for a pollution-linked loss after a spill from a chemical tanker in Rotterdam released 217 tons of heavy fuel into the water while exiting the Dutch port.
PG&E pegs California wildfire insurance recoveries at $375mnCalifornia public utility company PG&E has said it hopes to recover around $375mn from its insurers over damage caused during a spate of wildfires in the state in the second half of last year.
Allstate suffers $224mn of cat losses in MayUS carrier Allstate was hit with $224mn of catastrophe losses in May mainly stemming from a serious of severe wind and hail events.