Claims and losses

A-grade students lose momentum, world-class soccer teams have bad runs and every ship must occasionally navigate through stormy weather.

One phenomenon we are hearing more about in recent weeks is the trend for carriers to push back on claims.

Loss deterioration, interest rates and capacity reduction lend weight to reinsurers’ case for rate rises.

There was a lot to unpack in Swiss Re’s investor day update, which focused on its plans to continue recapturing market share in the natural catastrophe business.

CFO John Dacey says the new alternative capital partners unit will enhance its flexibility.

The country's ministry of finance has agreed a deal with 56 insurers to insure public buildings against natural disasters.

The costliest event, Typhoon Hagibis, will generate a near-$60mn hit across two classes of shares.

About 60 percent of the loss stemmed from one weather event in Texas.

Ricardo Lara urged insurers to be flexible over deadlines for loss notification and the submission of documents.

Mitsui Sumitomo estimated its Hagibis hit at $2bn while Sompo said it had recovered almost $1bn from reinsurers this year.

Any carrier troubled in recent months by large losses, be they property or casualty, will have noted Zurich CEO Mario Greco’s claim last week that his company has neutralised the threat.

The Japanese parent cuts its full-year overseas profit projection due to large losses within the Bermuda subsidiary.