• Contact Us
  • About
  • Advertise
  • Privacy & Policy
Thursday, September 18, 2025
  • Login
E3P Motor Insurance
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Home
  • Insurance
  • Pension
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
No Result
View All Result
Business Post
No Result
View All Result
Home Insurance

High Reinsurance Pricing Sucks Reinforcement From Spiralling Severe Weather

Staff Reporter by Staff Reporter
September 2, 2021
in Insurance
0 0
0
High Reinsurance Pricing Sucks Reinforcement From Spiralling Severe Weather
0
SHARES
79
VIEWS
Share on FacebookShare on TwitterShare on WhatsApp

Spiralling severe weather events and matching high insured losses are building up strong reasons to endorse high reinsurance pricing at the January 2022 renewal season.

Expected to impact on reinsurance pricing is the US Hurricane Ida with a projected loss based on early indications from modelling data by specialist ILS manager, Twelve Capital with a claim bracket of US$15bn – US25bn. Twelve Capital said information from variety of model vendors indicate that “These first early indications point towards an insured loss of around USD 15 – 25bn for insurance industry.” Another catastrophe risk specialist, Karen Clark & Company model projections for insurance and reinsurance market loss is close US$18bn. Several models said insured loss on the track of Hurricane Ida is between US$15bn to US22bn.

Flood losses across Germany and other parts of Europe, as well as other severe events across the globe this summer, according to experts create a bastion of support for improved reinsurance pricing.

For the European floods alone new estimates put losses at $11.3bn mark, and insured losses across the globe. Previous estimate of German insurance market loss was Euros 5.5bn.

The general manager of the German Insurance Association (GDV), Jorg Asmussen, said that “We are now expecting insurance losses of around seven billion euros.” A quarter of a million claims is expected, with 200,000 of those from houses, household effects and businesses. Loss data indicate that 46% of homeowners have protection against natural hazards such as heavy rain and floods. This contrasts with national coverage for nearly all buildings covered by rainstorm and hail.

This flood Artemis news blog reported, is now the most damaging natural disaster in German history, making for a particularly costly year for local insurers and those providing reinsurance capital to them.

“Together with the high hail damage in early summer, it is becoming apparent that 2021 will be one of the most expensive natural hazards years ever for insurers,” Asmussen said.

Therefore, it follows that with counting insured loss from natural catastrophes across the globe and still open ended trail of natural disasters up and until the year end, the lapping asking for reinsurance price increase in December renewals is almost certain.

Previous Post

Government Looks To Ditch Fire Insurance Levy

Next Post

Sovereign Trust Clinches ‘Insurance Company Of The Decade’ Award

Staff Reporter

Staff Reporter

Related Posts

Omosehin
Insurance

Growing Economy, Collaborative Regulatory Synergy Takes Centre Stage

September 17, 2025
Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration
Insurance

Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

September 17, 2025
SDGs Synergy Initiative Courts NAICOM Support to Deepen Insurance Awareness Among Youths
Insurance

SDGs Synergy Initiative Courts NAICOM Support to Deepen Insurance Awareness Among Youths

September 17, 2025
Next Post
Sovereign Trust Clinches ‘Insurance Company Of The Decade’ Award

Sovereign Trust Clinches 'Insurance Company Of The Decade' Award

Please login to join discussion
NEM INSURANCE NEM INSURANCE NEM INSURANCE
  • Trending
  • Comments
  • Latest
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

April 27, 2024
tope smart NIA former chairman

Insurance Milestone: A Beacon To Follow

April 3, 2022
Custodian Investment To Acquire 51% Stake In UACN Property

Penetration: Operators Call For Insurance-In-Action

November 2, 2022
NCRIB And Universal In Pictures

NCRIB And Universal In Pictures

May 4, 2024
Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

Reinsurance Rates May Increase Into 2022, But Momentum To Wane: Fitch

April 13, 2021
ncrib logo

NCRIB Sets The Stage For Adaramola’s Tenure

June 7, 2023
Preferred PenCom Logo

PenCom Board Crafted To Hedge Setback

February 1, 2021
Linkage Assurance Aligns With Brokers For Growth

Linkage Assurance Aligns With Brokers For Growth

December 6, 2021
PTAD Wipes 21,227 Parastatals Pensioners From Payroll

PTAD Wipes 21,227 Parastatals Pensioners From Payroll

January 31, 2021
Preferred PenCom Logo

PenCom Board Back-To-Work Pass, Gets Tick Over

May 4, 2025
Anchor MD Loses Father

Anchor MD Loses Father

2
Regulators Clear Guinea Insurance  For Private Placement

Regulators Clear Guinea Insurance For Private Placement

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Inaugurates Discount Rate Committee To Ease Insurance Contracts Under IFRS 17

2
Insurance Mastercard Joe Irukwu Passes On

Insurance Mastercard Joe Irukwu Passes On

2
AIICO Head office

Car Insurance Takes A New Turn With AIICO, ETAP ‘Redefine Partnership’

2
Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

Authenticity Of Motor Policy, Technology Crowns Policyholders Verifying Partners

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

2
Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

Ebere Nwoji Makes It Back To Back As 2023 Print Media Reporter

2
Loss Adjusters Receive Charge To Match Speed Of New Developments

Loss Adjusters Receive Charge To Match Speed Of New Developments

2
NAICOM Helmsman Thomas Leads African Insurance Supervisory Authorities

Federal Government & NAICOM Working On New Guidelines For Insuring Government Assets

2
Omosehin

Growing Economy, Collaborative Regulatory Synergy Takes Centre Stage

September 17, 2025
Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

September 17, 2025
SDGs Synergy Initiative Courts NAICOM Support to Deepen Insurance Awareness Among Youths

SDGs Synergy Initiative Courts NAICOM Support to Deepen Insurance Awareness Among Youths

September 17, 2025
NAIPE’ Landmark Confab Holds Tomorrow, Puts Insurance & Pension as Economy Accelerators

NAIPE’ Landmark Confab Holds Tomorrow, Puts Insurance & Pension as Economy Accelerators

September 15, 2025
Catholic Priest Implores  Nigerians Not to Downgrade Own Security Amidst Heightened Insecurity

Catholic Priest Implores Nigerians Not to Downgrade Own Security Amidst Heightened Insecurity

September 14, 2025
AIICO Insurance Launches Recycling Project For a Greener Future

AIICO Insurance Launches Recycling Project For a Greener Future

September 13, 2025
Leadway Holdings Becomes Dominant Pension Investor Acquires PAL Pensions

Leadway Group X-rays Nigeria’s New Tax Reforms and Compliance Strategies

September 13, 2025
Image Spin: ENACTUS NIGERIA@25 Honours Sovereign Trust Insurance Plc

Image Spin: ENACTUS NIGERIA@25 Honours Sovereign Trust Insurance Plc

September 13, 2025
Insurance Industry Regulator, Operators Focus on Collective Action, Sustainable Growth, Social Viability

Insurance Industry Regulator, Operators Focus on Collective Action, Sustainable Growth, Social Viability

September 11, 2025
Microphone

NAIPE 10th And Agenda Setting Conference Earns Insurance & Pension Wide Endorsements

September 11, 2025
ADVERTISEMENT

Recent News

Omosehin

Growing Economy, Collaborative Regulatory Synergy Takes Centre Stage

September 17, 2025
Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

September 17, 2025
SDGs Synergy Initiative Courts NAICOM Support to Deepen Insurance Awareness Among Youths

SDGs Synergy Initiative Courts NAICOM Support to Deepen Insurance Awareness Among Youths

September 17, 2025
NAIPE’ Landmark Confab Holds Tomorrow, Puts Insurance & Pension as Economy Accelerators

NAIPE’ Landmark Confab Holds Tomorrow, Puts Insurance & Pension as Economy Accelerators

September 15, 2025
Catholic Priest Implores  Nigerians Not to Downgrade Own Security Amidst Heightened Insecurity

Catholic Priest Implores Nigerians Not to Downgrade Own Security Amidst Heightened Insecurity

September 14, 2025
AIICO Insurance Launches Recycling Project For a Greener Future

AIICO Insurance Launches Recycling Project For a Greener Future

September 13, 2025
Leadway Holdings Becomes Dominant Pension Investor Acquires PAL Pensions

Leadway Group X-rays Nigeria’s New Tax Reforms and Compliance Strategies

September 13, 2025
Image Spin: ENACTUS NIGERIA@25 Honours Sovereign Trust Insurance Plc

Image Spin: ENACTUS NIGERIA@25 Honours Sovereign Trust Insurance Plc

September 13, 2025
Insurance Industry Regulator, Operators Focus on Collective Action, Sustainable Growth, Social Viability

Insurance Industry Regulator, Operators Focus on Collective Action, Sustainable Growth, Social Viability

September 11, 2025
Microphone

NAIPE 10th And Agenda Setting Conference Earns Insurance & Pension Wide Endorsements

September 11, 2025
Leadway Assurance Pays N67.1bn Claims In 2023

Vulnerable Farmers Get Agricultural Insurance Solutions From Leadway Assurance, State Governments And Partners

September 11, 2025
Half Year Claims Obligation, Sovereign Trust Pays N1.6bn

Sovereign Trust Insurance Keeps Dividend Flag up, Earns N40bn in 2024

September 11, 2025
NESG, NAICOM Birth Strategic Initiative That Synchronises Resources For Insurance Transformation And Economic Development

NESG, NAICOM Birth Strategic Initiative That Synchronises Resources For Insurance Transformation And Economic Development

September 10, 2025
InsurTech Development, FinTech Association of Nigeria Pledges Unalloyed Support For NAICOM Tech Plan

InsurTech Development, FinTech Association of Nigeria Pledges Unalloyed Support For NAICOM Tech Plan

September 10, 2025
NEM Insurance NEM Insurance NEM Insurance
Business Post

We connect brands with buyers and sellers of insurance, pension and also project insurance and allied Businesses to the trending generation. We help the various public to adapt to the constant changes as it would impact, and also enable advertisers to connect, engage and target opportunities on line , in print and in person.

Browse by Category

  • Business Unlimited
  • Feature
  • Insurance
  • News
  • OIL & ENERGY
  • Pension
  • Travel
  • Uncategorized

Recent News

Omosehin

Growing Economy, Collaborative Regulatory Synergy Takes Centre Stage

September 17, 2025
Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

Rex Insurance Chairman Calls For Stronger Insurance And Pension Frameworks For Economic Acceleration

September 17, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 BusinessPost

No Result
View All Result
  • Home
  • Insurance
  • Business Unlimited
  • OIL & ENERGY
  • Feature
  • News
  • Contact Us
  • About
  • Advertise
  • Privacy & Policy

© 2023 BusinessPost

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In