Insurance industry payouts related to last year's sinking of cruise liner Costa Concordia have continued to rise and are likely to top $1.1 billion as salvaging of the wreck continues, reinsurer Munich Re said on Tuesday.
Aspen Insurance estimates its pretax losses for the second quarter may hit $59 million, with Central European flood losses in June contributing to 52 percent of the total.
Historic flooding dominated a below-average natural catastrophe season through the first half of this year, according to a Munich Re Nat Cat presentation.
Reinsurer Munich Re is likely to face damage claims of $333-466 million from flooding in central Europe, a bank analyst predicted on Friday, after Allianz pencilled in its own net hit at 350 million.
Emerging markets will see the highest growth in premiums for insurance companies this year and next, while Europe lags, according to the world's biggest reinsurer, Munich Re.
Emerging markets will see the highest growth in premiums for insurance companies this year and next, while Europe lags, according to the world's biggest reinsurer, Munich Re.
Munich Re reported forecast-beating net profit of $1.3 billion in the first quarter as low damage claims offset an 11 percent drop in income from investments.
Risk Management Solutions has conducted risk analysis for two new catastrophe bonds: Bosphorus Re 1 Ltd. cat bond and the Tar Heel Re Ltd. cat bond, launched in April 2013.