First quarter net income of $ 669 million and core income of $ 678 million, up 8 % and 10 %, respectively, from the prior year quarter, which includes $ 354 million pre-tax ($ 280 million after - tax)
of catastrophe losses.
The most directly comparable GAAP financial measure is the combined ratio, which is computed by adding total incurred losses and LAE, including the impact
of catastrophe losses and loss and LAE reserve development from prior years, with the insurance expense ratio.
These results increased primarily from a lower level
of catastrophe losses and improved underlying performance in the Property & Casualty division.
A global catalogue
of catastrophe losses was constructed (MuirWood et al., 2006), normalised to account for changes that have resulted from variations in wealth and the number and value of properties located in the path of the catastrophes... Once the data were normalised, a small statistically significant trend was found for an increase in annual catastrophe loss since 1970 of 2 % per year.
From 1991 to 2010, hurricanes, tropical storms and related flooding caused about 44 %
of all catastrophe losses, with tornadoes making up 30 % and winter storms about 7.5 %.
Winter Storms are Third Largest Cause
of Catastrophe Losses, behind Hurricanes and Tornadoes; Is Your Home Prepared?
Not exact matches
the Company's share repurchase plans depend on a variety
of factors, including the Company's financial position, earnings, share price,
catastrophe losses, maintaining capital levels commensurate with the Company's desired ratings from independent rating agencies, funding
of the Company's qualified pension plan, capital requirements
of the Company's operating subsidiaries, legal requirements, regulatory constraints, other investment opportunities (including mergers and acquisitions and related financings), market conditions and other factors.
The combined ratio
of 97.5 % improved 2.1 points due to higher net favorable prior year reserve development (1.7 points) and a benefit (0.8 points) from
catastrophe losses, partially offset by a higher underlying combined ratio (0.4 points).
The combined ratio
of 74.7 % improved 4.7 points due to higher net favorable prior year reserve development (3.4 points), a lower underlying combined ratio (1.2 points) and lower
catastrophe losses (0.1 points).
Catastrophe losses in the first quarter
of 2018 primarily resulted from winter storms in the eastern United States, a wind and hail storm in the southern United States and mudslides in California.
Travelers Reports First Quarter Net Income and Core Income per Diluted Share
of $ 2.42 and $ 2.46, Respectively, Up 12 % and 14 %, Which Includes
Catastrophe Losses of $ 1.01 per Diluted Share
Travelers, which is seen as a bellwether for the insurance sector, said
catastrophe losses, net
of reinsurance, widened 2 percent to $ 354 million in the first quarter.
The combined ratio
of 97.5 % increased 1.1 points due to a higher underlying combined ratio (1.1 points) and higher
catastrophe losses (0.1 points), partially offset by higher net favorable prior year reserve development (0.1 points).
In the opinion
of the Company's management, this measure is meaningful to users
of the financial statements to understand the Company's periodic earnings and the variability
of earnings caused by the unpredictable nature (i.e., the timing and amount)
of catastrophes and
loss reserve development.
«It's not the run -
of - the - mill
loss you should be thinking about, but the home run, out -
of - the - park
catastrophe,» says David Young, a former insurance broker and risk manager now advising at the Small Business Development Center in Seattle.
It estimated
losses of about $ 1 billion each from Harvey and Irma, up to $ 700 million from Maria and additional
catastrophe losses, including earthquakes in Mexico,
of about $ 150 million.
Finance Minister François Baroin
of France said Friday that the
loss of his country's pristine AAA rating, cut a notch to AA +, was «not good news» but was «not a
catastrophe.»
Catastrophe losses were $ 6.1 million in the first quarter
of 2018, compared to $ 42.7 million last year.
Oct 30 (Reuters)- Hurricane Sandy appears to have easily caused more
losses than last year's Hurricane Irene, but final totals will be hard to come by for some time because
of the scale
of the disaster,
catastrophe forecasting companies said on Tuesday.
Dividends also took a hit with the insurer declaring a final dividend
of 4c per share, down from the 33c payout a year ago, after
catastrophe claims contributed to a $ 632 million after tax cash
loss during the second half.
The estimated impact
of historical
catastrophes on today's exposures», a repeat
of Donna in 2005 would have caused $ 26 billion in insured
losses.
«
Catastrophe modeler AIR Worldwide expects industry insured
losses of $ 20 - $ 65 [billion]... based on the track as
of Friday evening, and our sense is
losses could be at the lower end
of the range as the storm weakened faster than expected.»
That word «teleological» is the key to MacIntyre's solution, the
loss of which is the cause
of the
catastrophe described in his science - fiction parable.
«In the wake
of this human
catastrophe we have to ask ourselves if we are really prepared to deal with a natural disaster or a terrorist event at Indian Point or collateral issues like
loss of power or inability to cool fuel rods,» Lowey said.
«It is still too early to evaluate the current flood
catastrophe and its related
losses, especially because the floodwaters have yet to drain away,» said Anette Lamberts, Munich Re's head
of media relations.
For humans, the
loss of limbs is almost always an irreversible
catastrophe.
The gauntlet Juno ran at Jupiter held many chances for
catastrophe: The spacecraft might have been knocked out by intense magnetic fields (at that distance, 20 times stronger than Earth's), ionizing radiation (a total dose
of 265 rads — more than enough to kill a human being), dust particles from Jupiter's rings (from which the main engine was completely unshielded) or
loss of power if the solar arrays were unable to reorient to the sun.
The bulk
of these
losses can be attributed to sprawl in regions prone to
catastrophe — the total area
of coastal development in Florida has increased over 30 percent since 1990.
Nostalgia Director Mark Pellington tries to create a sense
of loss and mystery, with this rambling story
of various people suffering from grief or
catastrophe, but while the attempt is occasionally effective, the story becomes grim and lugubrious.
A story
of loss, adventure, and the search for friendship in the wake
of catastrophe, Close Your Eyes, Hold Hands is one
of Chris Bohjalian's finest novels to date - breathtaking, wise, and utterly transporting.
That amount
of money should be enough to help you handle any
catastrophe or job
loss and give you a cushion to get back on your feet.
To avoid a
catastrophe, forex traders usually implement a strict trading style that includes the use
of stop orders and limit orders designed to control potential
losses.
Most home insurance claims aren't «total
loss»
catastrophes, but rather smaller claims for things like smoke, water or theft issues, says Matt Naimoli, co-owner
of the Massachusetts - based G&N Insurance.
That means, if your home is not insured to rebuild in case
of any
catastrophe, your lender has a security interest in the
loss settlement from your insurer to the tune
of the loan balance and any accrued penalty and interest.
[My ZMNO & NWT
losses are actually limited to 25 - 30 % (vs. original entry prices), despite their collapsing share prices — i.e. mostly unrealised gains were incinerated — not a happy state
of affairs, but no
catastrophe either].
Though it may have seemed a good idea at the time, allowing for lower quality collateral has caused the creditworthiness
of several
catastrophe bonds to suffer as Lehman defaulted, and as
losses on subprime mortgages rose.
«We define pre-tax
catastrophe losses in excess
of $ 100 million from a single event or series
of related events as significant.
Feline Idiopathic Cystitis (FIC), also known as Feline Decrease Urinary Tract Disease (FLUTD) and Feline Urological Syndrome (FUS) is a standard situation that causes bladder pain, home soiling, and in male cats a life - threatening
catastrophe known as urinary obstruction Although the causes
of the situation are controversial, most experts believe that weight
loss program plays a task.
- SAS Travel can not take responsibility for additional costs due to unfavorable weather conditions, natural
catastrophe, strikes, accidents, illness, injury,
loss of personal items, etc..
- SAS TRAVEL DOES NOT TAKE RESPONSIBILITY FOR ADDITIONAL COSTS DUE TO UNFAVORABLE WEATHER CONDITIONS, NATURAL
CATASTROPHE, STRIKES, ACCIDENTS, ILLNESS, INJURY,
LOSS OF PERSONAL ITEMS, ETC..
SAS Travel does not take responsibility for additional costs due to unfavorable weather conditions, natural
catastrophe, strikes, accidents, illness, injury,
loss of personal items, etc..
- SAS Travel does not take responsibility for additional costs due to unfavorable weather conditions, natural
catastrophe, strikes, accidents, illness, injury,
loss of personal items, etc..
In an installation comprising fragments
of body parts made
of wood, clay, and stone scattered in foetal positions, Kiri Dalena's Monument for a Present Future (2013) recalls the ash - covered bodies in the wake
of Mt. Vesuvius's eruption in A.D. 79, suggesting that the
loss of lives will always count as the greatest tragedy in the aftermath
of catastrophes or atrocities.
I wrote about «The Varied Costs
of Catastrophe» after Japan's devastating earthquake and tsunami, comparing the human and financial
losses to those from the 2004 Indian Ocean tsunami.
Munich Re, «Natural Disasters: Billion - $ Insurance
Losses,» in Louis Perroy, «Impacts
of Climate Change on Financial Institutions» Medium to Long Term Assets and Liabilities,» presented to the Staple Inn Actuarial Society, 14 June 2005; Munich Re, Topics Geo Significant Natural
Catastrophes in 2004, 2005, and 2006 (Munich: 2005, 2006, and 2007.
Of the 58 natural catastrophes with $ 1 billion or more of insured losses recorded through the end of 2006, 3 were earthquakes, including the devastating 2004 earthquake - related Asian tsunami; the other 55 were weather - related — storms, floods, hurricanes, or wildfire
Of the 58 natural
catastrophes with $ 1 billion or more
of insured losses recorded through the end of 2006, 3 were earthquakes, including the devastating 2004 earthquake - related Asian tsunami; the other 55 were weather - related — storms, floods, hurricanes, or wildfire
of insured
losses recorded through the end
of 2006, 3 were earthquakes, including the devastating 2004 earthquake - related Asian tsunami; the other 55 were weather - related — storms, floods, hurricanes, or wildfire
of 2006, 3 were earthquakes, including the devastating 2004 earthquake - related Asian tsunami; the other 55 were weather - related — storms, floods, hurricanes, or wildfires.
A new report by Lloyd's, which consulted the world's largest
catastrophe modelling firms, says a 20 cm rise in the sea level at the southern tip
of Manhattan Island increased Superstorm Sandy's surge
losses by 30 % (up to $ 8bn) in New York alone.
For instance, globally there has been a more than threefold increase in
loss - related floods since 1980 and more than double the number
of windstorm natural
catastrophes, with particularly heavy
losses as a result
of Atlantic hurricanes.
A. 2
of Miller, Muir - Wood and Boissonnade, An exploration
of trends in normalized weather - related
catastrophe losses.
Similarly, the debate is permeated with the assumption that climate change will bring ecological
catastrophe in its train with major
loss of species diversity in its train.