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A leading rating agency has predicted that 2022 will bring the fifth consecutive year of premium rate increases for property catastrophe cover in 2022, and predicted that they will be double-digit rate increases. Fitch Ratings also said that it expec...

Bermuda reinsurer RenaissanceRe Holdings Ltd has estimated that losses from certain 2021 catastrophe events will have a net negative impact of approximately $725 million on the company’s third-quarter 2021 results of operations. This estimate is prim...

The extreme-event modelling company AIR Worldwide (AIR) has released its 2021 Global Modeled Catastrophe Losses report, detailing key global financial loss metrics based on its latest suite of models that reflect the near-present climate risk. AIR e...

Bermuda-headquartered Lancashire Holdings Limited’s third-quarter earnings release in early November will include losses for exposures to recent natural catastrophe events, including Hurricane Ida and the European storms Bernd, Volker and Xero. Lanca...

Hundreds of virtual attendees heard from featured speakers and panellists at the 15th annual risk mitigation leadership forum presented by Bermuda-based RenaissanceRe. The global provider of re/insurance hosted thought leaders, risk scientists and co...

Inland flooding and supply chain disruption are driving up insured loss estimates for Hurricane Ida. An updated assessment from extreme event modelling firm AIR Worldwide last night said insured losses could be from $20 billion to $30 billion. AIR no...

A new estimate from catastrophe modelling firm, Karen Clark and Company (KCC) yesterday puts the insured loss from Hurricane Ida close to $18 billion – including $40 million in the Caribbean and the rest from wind and storm surge losses in the US. Ea...

Hurricane Ida will be more of an earnings hit as opposed to a capital event for the insurance industry, A.M. Best posits in its latest commentary. The rating agency said that because a number of Louisiana writers are regional players with lower level...

Bermuda is home base for 14 of the world’s top 50 reinsurers, a new list published yesterday by global rating agency AM Best reveals. The list which reflects the latest available 2020 compilation, confirms the continued concentration of reinsurance e...

Bermuda’s insurance regulators have created an advanced catastrophe bond registration process that puts the island light years ahead of the competition. Cat bond sponsors looking to locate such structures on the island can take advantage of streamlin...

Bermuda-based re/insurers estimate they will incur gross claim losses of $2.7 billion as payments to United States policyholders/cedants to cover the damaging effects of Winter Storm Uri, which wreaked havoc in the southern region of the US, particul...

CoreLogic, a global property information, analytics and data-enabled solutions provider, has announced an extended collaboration with Bermudian-based Xceedance. Under this expanded arrangement, CoreLogic said re/insurers and brokers will now gain acc...