High nat cat frequency delivers third-highest insured loss in eight years: Willis Re

High nat cat frequency delivers third-highest insured loss in eight years: Willis Re

High nat cat frequency delivers third-highest insured loss in eight years: Willis Re

A large number of midsized natural catastrophes drove 2018 insurance losses to $71.5bn, the third highest in the past eight years and above the annual average of $65.5bn since 2011, said Willis Re in its annual nat cat review. Willis Re said 2018 was “unusual” because a series of smaller catastrophes, rather than one large event, pushed the insured total…

Nat cats top $1bn at Swiss Re in Q4

Nat cats top $1bn at Swiss Re in Q4

Nat cats top $1bn at Swiss Re in Q4

Swiss Re said natural catastrophe losses during Q4 2018 totalled $1bn with an additional $300m from man-made events during the quarter, raising its full-year 2018 catastrophe claims to an estimated $2.9bn, before tax and net of retrocession. The Camp and Woolsey wildfires in California recorded the highest losses for Swiss Re during the last quarter of 2018, with claims expected…

Reinsurance rates movement ‘muted’ at renewal: Guy Carp

Reinsurance rates movement ‘muted’ at renewal: Guy Carp

Reinsurance rates movement ‘muted’ at renewal: Guy Carp

The impact of last year’s cat losses on property rates was “muted” at 1 January reinsurance renewals, with European business even recording a 2.5% fall in rates, according to Guy Carpenter’s Global Rate on Line Index that measures the change in catastrophe premium paid year on year. The US, most affected by hurricane and wildfire losses during 2018, pushed through…

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