Catastrophe

Will it Take a Catastrophe for Nations to Take Issue of Space Debris Seriously?

Life Insurance /
Will it Take a Catastrophe for Nations to Take Issue of Space Debris Seriously?

The Shenzhou-20 capsule will carry no crew, because one of its windows has been struck by space debris. Astronauts noticed an apparent crack on November 5, during pre-return checks. Space journalist Andrew Jones explained how experts on the ground had studied images of the damage and concluded that a piece of debris smaller than 1mm […]

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Mapfre Re adds to retro protection with €125m catastrophe bond :: Insurance Day

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Dollars

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Catastrophe Bonds Absorb ‘Black Swan’ Event Dealt by Melissa

Health Insurance /
Catastrophe Bonds Absorb ‘Black Swan’ Event Dealt by Melissa

A rare thing is about to happen in the $55 billion market for catastrophe bonds: a trigger event will wipe out 100% of a bond’s principal. Jamaica’s $150 million cat bond has been the subject of controversy since it failed to trigger last year after Hurricane Beryl destroyed large parts of the island. The development

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Jamaica Catastrophe Bond Headed for Full Payout After Hurricane, World Bank Says

Auto Insurance /
Satellite Data Reveals Hurricane Melissa Damage in Jamaica

Investors in Jamaica’s catastrophe bond now face a 100% payout after Hurricane Melissa set off a full trigger event, according to the World Bank. Jamaica’s $150 million cat bond, which was arranged by the World Bank, is designed to provide funds to pay for only the most extreme weather events and is in addition to

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CNA Net Income for Q3 Up 42% on Lower Catastrophe Losses

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Missouri’s Mutual Insurance Companies Report Stronger Results in 2024

CNA Financial Corp. recorded third quarter net income of $403 million compared with $283 million a year during the same period. Pretax catastrophe losses were $41 million for Q3, down more than $100 million from the prior year quarter. CNA’s property/casualty operations turned in a Q3 underwriting gain of $194 million. Underwriting profit was $68

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Jamaica Catastrophe Bond Has Now Triggered, Government Says

Life Insurance /
Melissa Jamaica Damage Seen Costing Insurers Up to $3 Billion

Jamaica’s catastrophe bond has now triggered as a result of the fallout from Hurricane Melissa, the government said. “Over the next few weeks we’ll get more details into what the payout is,” Dana Morris Dixon, minister of education, skills, youth and information, said in a briefing from the prime minister’s office on Friday. Jamaica’s $150

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Lower catastrophe losses drive Scor P&C profit beat

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Lower catastrophe losses drive Scor P&C profit beat

Paris-based reinsurer’s P&C insurance service profit climbs 60% in the quarter to €255m as combined ratio falls 7.5 points to…       Related Stories Daily Digest: Scor shares tumble, Axis CEO on US casualty rates, Melissa insured losses in the billions Axis CEO: US casualty portfolio still rate adequate SiriusPoint CEO Egan pleased with carrier’s ‘upward

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Catastrophe Bonds Worth $17.5 Billion Land in EU Crosshairs

Health Insurance /
Catastrophe Bonds Worth $17.5 Billion Land in EU Crosshairs

Asset managers with sizable holdings of catastrophe bonds are watching to see how a recent recommendation by Europe’s markets watchdog will disrupt the status quo, with some already warning of a potential selloff. At issue is the $17.5 billion of catastrophe bonds sitting in funds sold under the UCITS label, which is a European Union

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