FRANKFURT — Swiss Re’s first-half net profit fell 5.3%, as claims relating to the Ethiopian Airlines crash and the subsequent grounding of the Boeing 737 MAX, plus natural catastrophes took their toll. The world’s second-largest reinsurance company highlighted claims from …
According to preliminary sigma estimates, global total economic losses from natural catastrophes and man-made disasters in the first half of 2017 were $44 billion. That was well below the first half annual average of $120 billion of the last 10 …
Hurricanes, wildfires, tsunamis and other disasters cannot be stopped, but countries can plan for them — something some areas of the world seem to do better than others, according to a new study published in the journal Risk Analysis. Oceania, …
Allstate announced a major shift for the insurance industry as it embraces drone technology to further improve customer service. The company has been participating in drone test flights for use in property claims, the company announced. Following years of independent …
Allianz SE, Europe’s biggest insurer, said third-quarter profit dropped 15 percent as earnings at its property and casualty and asset management units declined. Net income fell to 1.36 billion euros ($1.48 billion) from 1.61 billion euros a year earlier, the …
Over the past years, persistent extreme weather conditions have triggered severe natural catastrophes and caused losses in the billions. There is a growing number of scientific studies that suggest an increase in quasi-stationary weather patterns and their correlation with the …
The absence of very severe catastrophes and a quiet hurricane season in the North Atlantic meant that losses from natural catastrophes in 2014 were much lower. In North America, overall losses of $30 billion and insured losses of $18 billion …
The third annual National Tornado Summit being held Feb. 10 and 11 in Oklahoma City will bring together insurance industry professionals, emergency managers, policymakers and weather experts. Oklahoma Insurance Commissioner John Doak says it’s an unequaled opportunity for attendees to …
Even a major disaster would be unlikely to push up reinsurance prices given the amount of capital currently available to back policies, said Richard Ward, chief executive officer of Lloyd’s of London. “What is going to change the rate movement? …