Insured losses from natural catastrophe events in H1 2018 were down some 33 percent year on year at $17bn (2017: $25.5bn) – close to the 30-year average of $17.5bn, according to analysis by Munich Re.
The construction (re)insurance sector is expected to absorb the extensive rebuilding costs for the Glasgow School of Art, one of the UK’s iconic buildings.
Fac market losses as a result of recent damage to Colombia’s Ituango dam could be significant given the expected scale of the problem.
AIG could be facing a substantive property loss following a massive fire at the five-star Mandarin Oriental Hotel in London’s Knightsbridge last month.
Insurers will take losses of more than $3bn following multiple thunderstorm and hail events in the US during June, according to the latest Impact Forecasting report from Aon.
Several motor manufacturers were forced to temporarily suspend operations this month as a result of severe flooding in Western Japan.
Severe weather across a swathe of the US last month will cost insurers $2.5bn in claims, according to Karen Clark & Company (KCC).
A second KC-390-related claim in eight months is set to cost the aviation (re)insurance market some $130mn after the first model of a new military aircraft crashed at a Brazilian airport.
Angolan satellite could cost international market $120mn
2018 major losses: 1 January – 8 June
Insured losses will run to hundreds of millions
The Lloyd's market absorbed £4.5bn ($6.3bn) in major claims in 2017 (2016: £2.1bn), with US and Caribbean-oriented direct and facultative property writers taking a pounding off the back of Harvey, Irma and Maria.
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