From Reuters via the Thompson Reuters Foundation:
Payouts
by insurers for disaster claims in the first six months of the year
were below the average for the past 10 years, a study showed on
Wednesday, which is likely to bolster insurers' calls for cheaper
reinsurance.
The global insurance industry covered $21 billion in losses
from natural catastrophes and man-made disasters in the first half of
the year, preliminary estimates from a study by reinsurer Swiss Re
showed.
This was 22 percent below the $27 billion first-half average for the previous 10 years.
The findings come as reinsurance executives prepare for
their annual get-together in Monte Carlo next month and at a time when
they are facing calls from insurance company clients to lower prices.
Reinsurers such as Hannover and Swiss Re help their clients
to cover claims from events such as earthquakes or floods in exchange
for part of the premium....MORE
