Perils
-
The event occurred a fortnight after major North Island flooding in New Zealand. -
There were 10 fatalities, mostly due to drowning or tree fall accidents.
-
The figure represents a 26% increase on the previous estimate.
-
The final estimate is a 12% increase on an August tally of NZ$1.99bn.
-
As a result of mostly flooding, £467mn of losses occurred in the UK.
-
France “lead the tally by a significant margin”, followed by the UK, Belgium and the Netherlands, Perils said.
-
The final report said the majority of the losses occurred on Kyushu Island with 74% of the total industry loss.
-
The floods struck New Zealand’s North Island between 27 January and 2 February 2023.
-
Christoph Oehy will replace Luzi Hitz in November 2023.
-
Perils increased the loss estimate by 25% due to a significant increase in average claim size across residential and commercial property lines.
-
The devastating quake left more than 50,000 dead and destroyed 160,000 buildings in Turkey.
-
The flooding resulted in the costliest weather event for New Zealand’s insurance industry to date.
Most Recent
-
GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%
22 November 2024 -
American Coastal targets $100mn of Florida named storm coverage
22 November 2024 -
Allstate pegs October cat losses at $226mn post-tax
21 November 2024 -
Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM
20 November 2024