Total insured losses from Turkey Earthquake estimated $2.4 bn, property losses $20 bn
Total property losses from the M7.8 and M7.5 earthquakes are expected to be close to $20 billion, with the M7.8 earthquake accounting for the bulk of those losses. According to the high-resolution KCC Turkey Earthquake Reference Model, total insured losses are estimated to be $2.4 billion. The loss figures do not include losses within Syria. […]
Reinsurers are pulling back cat reinsurance coverage, but cat bonds & ILS instruments may help
Following multiple years of large catastrophe losses, reinsurers are raising prices and pulling back cat reinsurance coverage. This puts the cat bond market in a favourable position to provide the large amount of risk capital needed to cover the most damaging global catastrophes, according to a report from DBRS Morningstar. It expects a moderate decrease in cat […]
Worst Natural Disasters in 2022. Global Natural Catastrophe Review
Climate change is taking an increasing toll. The natural disaster figures for 2022 are dominated by events that are more intense or are occurring more frequently. In some cases, both trends apply. Contents: 2022 natural disasters in figures What were the worst natural disasters in 2022? Regional overview Hurricane Ian driving disaster losses in USA […]
TURKIYE – earthquake update; insured losses may exceed USD 4 billion
The consecutive two devastating earthquakes that hit on 5 February Turkiye and Syria in the region of their common border, as well as the tens of aftershocks, have caused insurable losses that may exceed USD 4 billion, real-estate information firm CoreLogic estimates. According to official information from the Turkish Ministry of Interior, the death toll […]
Impact of Turkey quakes adds to challenging environment for re/insurers: AM Best
A new report from AM Best has highlighted how the impact of the two earthquakes in south-eastern Turkey, adds to what is already a “challenging operating environment” for re/insurers within the country. On February 6, 2023, two powerful earthquakes of more than 7.5 magnitude struck near the south-eastern Turkish cities of Gaziantep and Kahramanmaras, the […]
Weather risk transfer market is primed for innovation: Swiss Re Corporate Solutions ECM
There’s a lot of room for innovation when it comes to weather risk transfer solutions, and with the energy transition and adoption of renewables providing additional opportunities, Rishu Ranjan of Swiss Re Corporate Solutions is optimistic for the future. Ranjan leads the Weather & Environmental Commodities (ECM) team at Swiss Re Corporate Solutions, the commercial […]
Global Natural Catastrophe & Hazard Review. Analysis & Insurance Implications
During past year, the world saw another year of impactful natural catastrophe events that once again emphasized the need to better account for the growing risks that these hazards bring, according to Gallagher Re Natural Catastrophe Report. Contents: Global natural catastrophe overview Global Natural Hazard: Notable Statistics Global Natural Catastrophe Event Summary Natural catastrophe summaries by […]
TWIA Board wary of cat bond costs in 2023. Targets $2.92bn reinsurance
Members of the Board of the Texas Windstorm Insurance Association (TWIA) expressed concerns over the potential cost of catastrophe bond coverage in 2023, having an expiring $400 million cat bond it wants to renew as part of a target to buy up to $2.92 billion of reinsurance for the coming storm season. TWIA’s Board met […]
California earthquake to cause $600m of economic loss in Humboldt County: RMSI
According to global GIS and geospatial technology company, RMSI, a 6.4 magnitude earthquake that jolted the northern coast of California near Ferndale on 20 December is set to cause $600 million of economic loss in Humboldt County. RMSI states that the earthquake occurred in the vicinity of the Mendocino triple junction, where the Pacific, North […]
Использование Производных страховых инструментов (ILS) для устойчивого развития критической инфраструктуры транзитных стран инициативы «Пояс и Путь»
НАЖМИТЕ НА КАРТИНКУ ДЛЯ ПРОЧТЕНИЯ Глава из коллективной монографии Института Бизнеса БГУ Коллективная монография, подготовленная международным коллективом учёных, посвящена анализу различных аспектов устойчивого развития общества: экологическим, рыночным, социальным, информационным, технологическим, транспортным и ряду других. Одним из центральных аспектов издания является интеграционная компонента устойчивого развития различных секторов экономики разных государств для нашего общего будущего. Издание рекомендуется […]