Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap

Article 0 Comments The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses, according to an Aon report titled “Weather, Climate & Catastrophe Insight – 2018 Insight […]

Jan. 1 Renewals Saw ‘Muted Impact’ from 2018’s Catastrophes: Guy Carpenter

Article 0 Comments The overall impact of catastrophe losses on property rates was muted at the Jan. 1, 2019 reinsurance renewals, but the fourth highest annual catastrophe loss year on record did create questions over pricing adequacy, underwriting strategy and the amount of capital available, said Guy Carpenter & Co., […]

Global Reinsurance Capital Is Resilient Despite Losses of $230B over 2 Years: Aon

Article 0 Comments Global reinsurance capital – comprising traditional and alternative capital – fell 2 percent in 2018 to US$595 billion from $605 billion in 2017, remaining resilient in the face of insured natural catastrophe losses of $230 billion over the two-year period, according to a report published by Aon’s […]

Aon Taps Jones from Guy Carpenter as Exec. Chairman, Asia Reinsurance Solutions

Article 0 Comments Aon plc has appointed Richard Jones as executive chairman of its Reinsurance Solutions business in Asia. Jones will be responsible for business development and supporting clients across the Asia region. Based in Singapore, Jones will join Aon in May 2019 and will report to George Attard, CEO […]

July’s Droughts, Wildfires, Floods Caused Billions in Global Economic Losses: Aon

Article 0 Comments Many countries across the globe saw countries saw a worsening in drought-related and wildfire conditions during July, which have led to hundreds of deaths and created a significant financial impact – particularly in the agriculture, forestry, water management and fisheries industries. This was the assessment of Impact […]

Global 1H Insured Natural Disaster Losses 40% Lower than 10-Year Average: Aon

Article 0 Comments Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according to Impact Forecasting, the catastrophe model development […]