Catastrophe Risks
Moody's: Climate Change Heightens Key Risks for P&C Re/insurers
Climate change creates significant challenges for the property and casualty (P&C) insurance and reinsurance sectors and has a net negative credit impact on the industry, according to Moody's Investors Service. To a lesser degree, climate change also presents opportunities for firms to introduce new products and expand existing products. Read More
Behind Cyclone Gita, Captive Insurer Provides Record Payout to Tonga
Seven days after Cyclone Gita ravaged Tonga, its government received a $3.5 million insurance payout from the Pacific Catastrophe Risk Insurance Company (PCRIC), according to the World Bank. PCRIC is a captive insurance company whose parametric insurance policies are designed to payout within 10 days of a triggered event. Read More
P&C Industry's 2017 Underwriting Loss Expected To Rise to $29 Billion
A.M. Best expects the US property and casualty industry to post a second consecutive underwriting loss in 2017, driven mainly by catastrophe losses. As a result, the industry 2017 combined ratio is estimated to deteriorate to 105.1 from 100.9 in the previous year. Read More
AON Structures Largest Earthquake CAT Bond for World Bank
AON Securities has assisted the World Bank in structuring the largest ever catastrophe (CAT) bond covering earthquake. The bond, which mitigates balance sheet risk for the World Bank in Chile, Colombia, Mexico, and Peru by offering protection against earthquake risk on a parametric basis, is the second largest catastrophe bond on record. Read More
JLT Re Reviews 2017 Natural Catastrophes and Reveals Potential Impacts for 2018
JLT Re's "Natural Catastrophe Year in Review 2017" report examines catastrophes in 2017 and provides insights to help understand the future impact of such events in 2018 and beyond. Read More