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
Drinker Biddle hires insurance pro in California
24 May 2017 | San Francisco
Dan Brown is based in the firm’s San Francisco office. He was previously a partner at Dentons where he was a member of the insurance regulatory practice Read more

Christina Kindstedt joins Advantage Insurance
23 March 2017 | Burlington
Advantage Insurance has appointed Christina Kindstedt as senior vice president Read more

For more news visit our news section

Upcoming events
PARIMA MANILA 2017
Date: 28 March 2017
Location: SHANGRI LA at THE FORT Taguig, Metro Manila
Find out more

Captives & Corporate Insurance Strategies Summit
Date: 05 - 06 June 2017
Location: Canada
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
Can a captive $ave us from ourselves?
Feature: With a solid enterprise risk management strategy, a captive can increase in value and reputation, says Michael Zuckerman of Temple University Read more

Cook Islands
Country profile: In an era of increasing uncertainty, Tamatoa Jonassen suggests that the Cook Islands can be a bridge to financial security in a captive Read more

Ciaran Healy :: Willis Towers Watson
Interview: Although it’s typically viewed as a defensive move, BEPS could mean positive things for captives, says Ciaran Healy of Willis Towers Watson 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.”



R&Q acquires another captive in runoff
ICDC had a total net asset value of $7.95 million at the end of 2016. It redomiciled in Vermont in 2 Read more

R&Q bags Bermuda captive
Randall & Quilter American Holdings has snapped up the Bermuda reinsurance captive of AmeriPride Ser Read more

Captive industry’s reputation under threat
The IRS’s Notice 2016-66 is having negative effects on the reputation of the captive insurance ind Read more

Captive industry meets covered agreement with mixed response
Industry response to the covered agreement between the EU and the US has been interesting and varied Read more

Securis to track ILS exposure with RMS
Securis Investment Partners has licensed management software from RMS to help tackle the data-rich i 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