Global insurers and reinsurers look set to incur costs stretching into the multi-billion-dollar range from the ongoing winter storm and severe cold weather impacting the United States and Canada.
Tag: reinsurance losses
JP Morgan: Munich Re & Swiss Re Likely to Have Largest Share of Ian Losses
Based on RMS’s $67 billion estimate of Hurricane Ian losses, JP Morgan believes Munich Re and Swiss Re will have the largest market share of Ian losses. According to JP Morgan, RMS provided a range of $53-74 billion, with an additional $10 billion in losses for the National Flood Insurance Programme due to storm surge… Continue reading JP Morgan: Munich Re & Swiss Re Likely to Have Largest Share of Ian Losses
Fire and Hail Push Insurers to Rethink Climate Change Risks
By the time David Kaisel got back from selling his flour at a farmers’ market, a wildfire in California’s Capay Valley had burned both his tractor and the shipping container where he kept some tools. His insurer is set to pay out a sixth of his losses. He is now considering widening his coverage in… Continue reading Fire and Hail Push Insurers to Rethink Climate Change Risks