Catastrophe risk modeller Moody’s RMS Event Response expects private market insurance industry losses in the US from hurricanes Helene and Milton to fall between $35 billion and $55 billion, although warns of complexities and uncertainties surrounding loss estimates given the overlapping regions affected by the two storms.
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The re/insurance news that matters delivered to your inbox, or to read online, daily. Reinsurance News is run by professionals with years of experience in journalism, knowledge management and the creation of timely insight for the reinsurance and risk transfer sectors. By combining our experience in knowledge management and our broad reinsurance insight with technology, we aim to bring you the most important reinsurance, specialty & commercial insurance news online and in a simple daily email. You can visit ReinsuranceNe.ws online at any time to catch up on the latest stories and our views on global reinsurance market trends. We're publishing stories all day, every day. Reinsurance News brings the insurance and reinsurance industry news that matters to a growing global audience. Our loyal readership averages more than 220,000 unique users per month at January 2024, peaking at over 300,000 in busy periods and we're still growing.
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Updates
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Nearmap, a location intelligence and aerial imagery solutions provider, has completed an asset purchase agreement with Tensorflight.
Nearmap finalises asset purchase agreement for Tensorflight - Reinsurance News
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Bermuda-headquartered insurer and reinsurer Arch Capital Group Ltd. has announced the appointment of Nicolas Papadopoulo as Chief Executive Officer, as Marc Grandisson is to retire from the company.
Papadopoulo to take over Arch CEO role as Grandisson retires - Reinsurance News
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Third quarter catastrophe bond and related insurance-linked securities issuance was muted at $573 million, but sufficient to take issuance for the first nine months of the year to a new high of $13.2 billion, according to Artemis.bm.
A quiet Q3, but 9M 2024 catastrophe bond issuance hits $13.2 billion: Report - Reinsurance News
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African Development Bank Group’s Board of Directors has approved $34.8 million in grants to enhance resilience and adaptation to climate disaster risks for vulnerable communities in Malawi and Zimbabwe.
African Development Bank approves $34.8m grants for Malawi & Zimbabwe's climate resilience - Reinsurance News
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Chaucer Group has announced the appointment of marine insurance specialist Nicola Miles ACII as Class Underwriter Ports and Terminals.
Chaucer names Nicola Miles Ports & Terminals Class Underwriter - Reinsurance News
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Land Bank Insurance Company (LBIC) has partnered with CelsiusPro to pilot index insurance in South Africa, offering affordable drought-risk coverage for smallholder crop and livestock farmers.
LBIC partners with CelsiusPro to pilot index drought insurance in South Africa - Reinsurance News
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The number of buildings in Florida impacted by Hurricane Milton is similar to, or even more than Helene which totalled over 150,000, according to ICEYE’s initial data.
Building damage from Hurricane Milton in Florida could surpass Helene's: ICEYE - Reinsurance News
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According to a new Morningstar DBRS report, Hurricane Milton is expected to result in insured losses approaching $60 billion, likely causing the stabilisation of reinsurance prices seen during mid-year renewals to revert to their upward trajectory.
Expected $60bn loss from Milton to revert reinsurance pricing stability: Morningstar DBRS - Reinsurance News
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Price Forbes Re, an independent reinsurance broker, is excited to announce the appointment of Colin Kelley as its new Chief Commercial Officer, a role specifically created to support the company’s expansion.
Price Forbes Re names Colin Kelley as Chief Commercial Officer - Reinsurance News
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