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Catastrophe modeller RMS has estimated onshore insurance industry losses related to Hurricane Laura will range between $9 billion and $13 billion — suggesting that Bermudian reinsurers will face substantial claims. The estimate is markedly higher th...

Convex Group’s first catastrophe bond secured $300 million of reinsurance coverage. The insurer and reinsurer, which was founded by industry veteran Stephen Catlin last year, sponsored the transaction through the Bermudian special purpose insurer Hyp...

Insurers are likely to take a hit of between $1.5 billion and $2 billion from claims related to severe weather in the United States last month. The estimate comes from Aon’s Impact Forecasting, which tracked damage caused by several outbreaks of torn...

Hamilton Re has sponsored its first catastrophe bond to provide $60 million of collateralised reinsurance coverage. The issuance of the series 2019-1 principal at-risk variable rate notes issued by Cerulean Re SAC Ltd, acting in respect of the segreg...

Representatives of the world’s first multi-country risk pool held their quarterly board meeting in Bermuda. The meeting of the not-for-profit CCRIF SPC, formerly the Caribbean Catastrophe Risk Insurance Facility, provided an opportunity to discuss is...

The Bermuda reinsurance market is about to take more flood risk off the shoulders of US taxpayers. The US Federal Emergency Management Agency is looking to transfer $300 million of risk from the National Flood Insurance Programme through its second B...

Natural disaster losses cost the world $225 billion last year and the insurance industry picked up about $90 billion of the tab. Aon’s Weather, Climate and Catastrophe Insight report for 2018 found last year was the third year in a row to top the $20...

Moody’s Investors Service says the fourth-quarter earnings of re/insurers will be hit by wildfires in California, but the losses are described as “manageable”. The Camp and Woolsey fires could rack up insured losses of up to $15 billion, Moody’s said...

Argo Group International Holdings expects pre-tax catastrophe losses of approximately $25 million for the third quarter of this year. Hurricane Florence, Typhoon Jebi and other catastrophe and weather-related events during the three-month period are...

Reinsurers are strong enough to withstand losses from Hurricane Michael and the event is unlikely to be big enough to move the market. That is the view of three rating agencies which commented after the Category 4 storm hit the Florida panhandle area...

This year’s US Atlantic hurricane season is officially the most expensive ever, racking up $202.6 billion in damages since the formal start on June 1. The costs tallied by disaster modellers Chuck Watson and Mark Johnson surpass anything they’ve seen...

Bermudian-based Markel CatCo Investment Management Ltd has raised more than $1.8 billion for its private fund from existing and new investors — and next month it intends to raise more new capital. The island-based company with a focus on collateralis...