After facing uncertain and worrisome times in 2008 and 2009, the global reinsurance industry has been enjoying the relative successes of the past two years. Those two years have made a major difference in the industry as new risk models were released, allowing reinsurers to judge the value of risk more accurately. While the industry is certainly experiencing a time of prosperity, there are a number of factors that are adding to concerns about the future and what can be done to mitigate disasters that may be looming on the…
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Amlin releases new estimates for catastrophe losses
Amlin Plc, a UK and Lloyd’s insurance company, gave a presentation to analysts in order to provide its most recent estimates regarding its catastrophe losses as a result of major events this year. At that meeting, they announced that their estimations had reached approximately $50 million in their net claims resulting from the two serious American tornadoes that occurred in April and May of this year. They also stated that their estimations regarding the earthquake claims from the events in Japan and New Zealand “remain subject to uncertainty.” They added…
Read MoreReinsurance industry’s future is stormy, may be at risk in the event of a major natural disaster
The global reinsurance industry is under enormous pressure to quickly recover from the calamitous events that happened all over the world earlier in the year. Natural catastrophes have taken a massive toll on insurance companies worldwide, and as these companies hemorrhage money, so too do reinsurers as they pour funds into these companies to keep them afloat. While the severity of disasters occurring earlier in the year has not been overtly cataclysmic, the frequency in which they occurred has put strain on a somewhat unstable global economy. Now, insurance and…
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