Total insured losses from Turkey Earthquake estimated $2.4 bn, property losses $20 bn
Total property losses from the M7.8 and M7.5 earthquakes are expected to be close to $20 billion, with the M7.8 earthquake accounting for the bulk of those losses. According to the high-resolution KCC Turkey Earthquake Reference Model, total insured losses are estimated to be $2.4 billion. The loss figures do not include losses within Syria. […]
Reinsurers are pulling back cat reinsurance coverage, but cat bonds & ILS instruments may help
Following multiple years of large catastrophe losses, reinsurers are raising prices and pulling back cat reinsurance coverage. This puts the cat bond market in a favourable position to provide the large amount of risk capital needed to cover the most damaging global catastrophes, according to a report from DBRS Morningstar. It expects a moderate decrease in cat […]
