Property catastrophe

Typhoon Nanmadol: Flood expected to be major driver of losses as storm moves across Japan

Typhoon Nanmadol is continuing to bring damaging wind and rain to Japan today as it tracks up the main island of Honshu following yesterday’s landfall.

Typhoon Nanmadol threatens to cause major loss event in Japan

Japan is braced for the arrival of a highly destructive typhoon which threatens to cause billions of dollars of damage across large parts of the country over the coming days.

BI and inflation push France hail losses beyond €6bn

A significant and rising business interruption (BI) component exacerbated by inflation is a key driver of projections for a €6bn+ industry insured loss from the second quarter French hail storms, The Insurer understands.

Will Fiona buck the current Gulf of Mexico storm drought?

One of the most notable statistics from what has been a highly unusual Atlantic hurricane season to date has been the lack of activity in the Gulf of Mexico.

Don’t let data inconsistency exacerbate a catastrophic event

RMS’ Cihan Biyikoglu highlights how integrated data system designs can help avoid inconsistency issues…

Munich Re Specialty Insurance committed to cat as others pull back

Munich Re Specialty Insurance (MRSI) remains committed to writing catastrophe-exposed property business with the platform deploying more capacity in 2022 than it did last year, CEO Michael Kerner has told The Insurer.

Ariel Re looking to raise capital to support 2023 growth opportunities

Ariel Re is in active discussions with potential capital providers in a bid to increase Funds at Lloyd’s (FAL) to support growth opportunities in 2023, including in cat reinsurance at the upcoming 1 January renewal, The Insurer can reveal.

Property cat: Now is the time for providers to commit

MS Reinsurance’s Chris Hayward outlines why a strategy for delivering property catastrophe capacity is more essential than ever amid increasingly difficult market conditions…

Munich Re to maintain cyber and cat capacity as long as price is right

Munich Re’s reinsurance CEO Torsten Jeworrek has said the firm will maintain its appetite for both natural catastrophe and cyber business as long as pricing is “prudent and conservative”.

Verisk raises average annual loss figure to $123bn and warns of need to adjust pricing models

The global (re)insurance industry should now expect average annual catastrophe losses to total $123bn, according to the latest study by Verisk Extreme Event Solutions.

Severe storm losses in France show need for effective models

RMS’ Steve Drews looks back at the recent severe convective storm outbreak in France…

Retro market continues to harden amid limited supply

The hard property retrocession sector, which had formed one prong of the so-called “U-shaped” market over the last few years, is showing no sign of any easing that would relieve pressure on the now fast-hardening property reinsurance market.

Acrisure Re looks to strategically align with critical cat carriers and MGAs

Acrisure Re’s recent involvement in the launch of Cajun Underwriters Reciprocal Exchange (CURE) was part of a move to strategically align with six to eight carriers and MGAs in the critical cat arena from the Carolinas to Texas, The Insurer can reveal.

Property cat reinsurance teeters on edge of true hard market

The Atlantic may have been quieter than usual so far this hurricane season, but an inflation-led perfect storm is brewing for property cat reinsurance which is sure to dominate discussions in Monte Carlo this week as brokers begin the task of trying to line up sufficient capacity to get their clients home in the key 1 January renewal season.

Aon’s Marcell: Ability to create capacity will be key for brokers in 1.1 cat crunch

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Fitch: Strong property cat pricing will compensate for rising claims inflation

Fitch Ratings has maintained a neutral outlook on the global reinsurance sector amid predictions that the sector’s underlying financial performance will be broadly stable throughout the remainder of 2022 and into 2023.

GC: “Clear capacity constraints” in property cat but signs emerge of growing appetite

The reinsurance industry is gearing up for what is forecast to be a challenging renewal season amid a capacity crunch in property catastrophe and retro markets, but there are signs that some reinsurers are looking to grow their portfolios in the segment, according to Guy Carpenter’s executive team.

Atlantic hurricane activity awakens but near-term outlook good for US

A two-month pause in named storm activity in the Atlantic ended with the formation of Danielle on Friday, with Earl subsequently becoming the fifth named storm of the season over the weekend.

TCIP treaty to test property cat resolve at 1.11 renewal

The Turkish Catastrophe Insurance Pool (TCIP) will be closely watched as a precursor to 1 January as market observers look for early guidance on property cat appetite, The Insurer can reveal.