Losses

Talanx warns on 2017 profits following H2 cat losses

Talanx, the largest shareholder in Hannover Re and Germany’s third-largest insurance group by premium income, said it may miss its 2017 profits target following the roll call of heavy cat events in the second half of this year experienced by Hannover Re.

CCRIF reaches $100mn milestone with Irma loss triggers

The Caribbean Catastrophe Risk Insurance Facility (CCRIF), the World Bank sponsored risk pool that provides cat cover to its Caribbean members based on parametric triggers, has now paid over $100mn following Hurricane Irma.

Cargo still adrift warns Derrick

The chair of the International Union of Marine Insurance (IUMI) Cargo Committee, Nick Derrick has warned the specialist marine market that has to evolve if it is to remain sustainable.

Excess capital unlikely to be drained away by H2 cats

Despite great uncertainty over the final loss picture for H2, industry leaders gathering at the Rendez-Vous were sceptical that the industry’s excess capital position will drain completely away unless there are further major loss events.

Excess capital unlikely to be drained away by H2 cats

Swiss Re warns on cyber aggregations

Swiss Re’s head of Reinsurance is urging the industry to take a considered approach to cyber given the potential aggregation risks and that some risks were so systemic that only governments can reinsure.

Irma loss estimates lowered as focus turns to post-event response

US cat exposed shares climbed yesterday as investors breathed a sigh of relief about the eventual cost of Hurricane Irma to the (re)insurance industry.

Industry must seize the chance to shine

The combination of natural disasters in recent weeks has provided the reinsurance market with the chance to prove itself to its customers according to JLT Re.

Hurricane post mortems will change market – Scor

French reinsurance powerhouse Scor said regardless of the track or scale of the losses from Hurricane Irma the market will be changed by the lessons learnt.

Florida braced for Irmageddeon

With a cruel sense of timing, Florida is bracing itself for a hit from one of the biggest hurricanes in history just as the global reinsurance industry converges on Monte Carlo for the annual Rendez-Vous.

Capital waiting to pounce on post-event opportunities

While great uncertainty remains about the Irma insured loss picture, what is less in doubt is that capital is waiting in the wings if they spot post-event opportunities.

NOAA raises tropical storm and hurricane forecast for 2017

Conditions in the tropical Atlantic Ocean and the Caribbean Sea indicate 2017 could be an “extremely active season” for tropical storms and hurricanes, said NOAA on Wednesday.

Steadfast Re defends ILS markets in its “landmark” year

The so-called alternative reinsurance market is facing its most robust test yet following the estimated $100bn of losses from hurricanes Harvey, Irma and Maria which prompted JLT Re earlier this week to describe 2017 as a “landmark” year for the sector.