Facebook logo
Facebook logo
Facebook logo
Facebook logo

Latest Headlines

Captive Insurance Times home | Industry news | Natural catastrophe losses top $39 billion ← You are here

[close]
Latest News
Catastrophe product launched for LatAm SMEs
24 February 2017 | Panama
Charles Taylor has launched a new asset protection programme for Latin American small and medium-sized enterprises, designed to protect them from the costs of catastrophe insurance deductibles Read more

Aon and SS&C launch ILS platform
23 February 2017 | Pembroke
Aon Insurance Managers and SS&C Technologies have launched a joint platform intended to simplify insurance linked-securities (ILS) management... Read more

For more news visit our news section

Upcoming events
World Captive Forum 2017
Date: 29-31 January 2017
Location: Boca Raton
Find out more

CICA 2017 International Conference
Date: 12-14 March 2017
Location: San Diego, CA
Find out more

For more events visit our event section
Industry recruitment
There are currently no jobs available
For more jobs visit our recruitment section
Captive Insurance Times
View the latest issues online now

Sister publications
Securities Lending Times
http://captiveinsurancetimes.com

Asset Servicing Times
www.assetservicingtimes.com

Real Estate Investment Times
www.realestateinvestmenttimes.com

Media pack [download]
Ad specs [download]
Latest features
Finance with benefits
Feature: HR departments must have an oversight—and an understanding—of what’s going on in the employee benefits captive, says Ciaran Healy of Willis Towers Watson Read more

Texas
Country profile: With a dedicated captive plan in place, the Lone Star State is on the rise, says Josh Magden of the Texas Captive Insurance Association Read more

Harvesh Seegolam :: Mauritius Financial Services Promotion Agency
Interview: Since Mauritius introduced captive legislation at the beginning of 2016, interest in the jurisdiction has increased, as Harvesh Seegolam explains to Becky Butcher Read more

For more features visit our features section
Industry news
More industry news
Natural catastrophe losses top $39 billion
10 February 2017 | London | Reporter: Katherine Brown
Insured loss estimates from major natural catastrophes was around $39.5 billion in 2016, the highest since the annual market losses of $60 billion witnessed in 2012, according to the 2016 summary of natural catastrophe events report from Willis Re.

In the US, Hurricane Matthew accounted for the largest single insured loss at about $2.3 billion and the Fort McMurray wildfire in Canada caused insurance losses of approximately $3.5 billion.

The joint effects of Windstorms Elvira and Friederike in late May and early June led to Europe’s largest market losses of 2016, roughly $2.48 billion.

In Asia, the Kumamoto earthquake in Japan accounted for the largest single insured loss of 2016, which hit over $4.8 billion.

The Ecuador Earthquake in Esmeraldas Province caused the largest impact in Latin America, with estimates losses currently standing at around $325 to $850 million.

John Alarcon, executive director of catastrophe analytics at Willis Re International, said: “As our report shows, despite natural catastrophe insured losses falling in the last five years to 2016, they are still significant, and lower-profile perils such as the wildfire around Fort McMurray have the potential to cause substantial losses.”

He added: “Importantly, our report also highlights that economic losses continue to be higher than insured losses and substantially so in some regions. Clearly the insurance industry has a significant role to play in helping economic recovery by supporting resilient societies and closing the protection gap between insured and total economic loss when natural catastrophes occur.”



Catastrophe product launched for LatAm SMEs
Charles Taylor has launched a new asset protection programme for Latin American small and medium-siz Read more

Potential tax reforms pose questions for captives
Captive insurers should pay attention to US President Donald Trump’s proposed tax reforms, but the Read more

Alabama: 2016 ‘a new high point’ for captive growth
The Alabama Department of Insurance has revealed that 11 captives, two protected cell captives and o Read more

Bermuda captive industry targets US markets
Captive insurance experts in Bermuda are set to host a forum in the US to promote and highlight the Read more

Utah approves Caitlin Morgan as captive manager
Caitlin Morgan Captive Services has been approved by Utah to serve as a captive manager in the state Read more

Captive Insurance Times site map
Home
Home

Sitemap

Issue archive
Back issues online
Recruitment
Recruitment
Events andtraining
Upcoming events

Upcoming training

Company info
About us

Contact us


Copyright (C) 2013 Black Knight Media Ltd. All rights reserved. No reproduction without prior authorization