GlobeNewswire

AIR Worldwide Estimates Insured Losses for Typhoon Faxai Will be Between USD 3 Billion and USD 7 Billion

Share

Boston, Sept. 15, 2019 (GLOBE NEWSWIRE) -- Catastrophe risk modeling firm AIR Worldwide estimates that industry insured losses from Typhoon Faxai, which made landfall in Japan on September 9, will be between JPY 340 billion (USD 3 billion) and JPY 740 billion (USD 7 billion). AIR Worldwide is a Verisk (Nasdaq:VRSK) business.

According to AIR, Typhoon Faxai made landfall in Yokosuka, a southern suburb of Tokyo, on the main island of Honshu at around 3:00 a.m. local time Monday, September 9, with 1-minute sustained wind speeds of 170km/h (105 mph). Faxai crossed Tokyo Bay to strike Tokyo City with winds still equivalent to a strong Category 2 hurricane.

Faxai brought damaging winds across southeastern Honshu, along with storm surge and heavy precipitation to coastal regions. Impacts were reported across Chiba, Kanagawa, and Shizuoka prefectures. Storm surge was highest along the eastern shores of Tokyo Bay: JMA recorded a storm surge of more than 1 meter in Mera, Chiba Prefecture. The city of Izu in Shizuoka Prefecture experienced 17 inches of rain in 24 hours through early Monday, with recorded rates of more than four inches per hour.

According to AIR, Typhoon Faxai surpassed Typhoon Higos for the strongest sustained wind speed at landfall in the region and tied with 1958's Typhoon Helen for the lowest recorded central pressure. Faxai was comparable in strength to Typhoon Jebi, which devastated the southern Shikoku Island in 2018.

High winds downed two electrical towers and multiple utility poles, leaving more than 900,000 without power in the prefectures of Chiba, Ibaraki, Kanagawa, Shizuoka, and Tokyo.

Faxai also impacted crops in the region, ravaging rice fields and fruit farms just before harvest time. 

AIR’s modeled insured loss estimates include:

  • Insured damage to property (residential, commercial, industrial, and agricultural/mutual), both structures and their contents, and automobile from wind and storm surge

AIR’s modeled insured loss estimates do not include:

  • Losses from precipitation-induced flood
  • Landslide
  • Losses to land
  • Losses to infrastructure
  • Losses to CAR/EAR, marine hull, or marine cargo lines of business
  • Business interruption losses
  • Loss adjustment expenses
  • Demand surge—the increase in costs of materials, services, and labor due to increased demand following a catastrophic event; demand surge can be applied by AIR software users who want to account for this variable

About AIR Worldwide
AIR Worldwide (AIR) provides risk modeling solutions that make individuals, businesses, and society more resilient to extreme events. In 1987, AIR Worldwide founded the catastrophe modeling industry and today models the risk from natural catastrophes, terrorism, pandemics, casualty catastrophes, and cyber incidents. Insurance, reinsurance, financial, corporate, and government clients rely on AIR’s advanced science, software, and consulting services for catastrophe risk management, insurance-linked securities, longevity modeling, site-specific engineering analyses, and agricultural risk management. AIR Worldwide, a Verisk (Nasdaq:VRSK) business, is headquartered in Boston, with additional offices in North America, Europe, and Asia. For more information, please visit www.air-worldwide.com.

###

For more information, contact:
Kevin Long
AIR Worldwide
+1-617-267-6645
klong@air-worldwide.com

About GlobeNewswire

GlobeNewswire
GlobeNewswire
One Liberty Plaza - 165 Broadway
NY 10006 New York

https://globenewswire.com

GlobeNewswire is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire

Subscribe to all the latest releases from GlobeNewswire by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire

Acron (Veliky Novgorod) Announces Extraordinary General Meeting22.10.2019 10:34:00 CESTPress release

22 October 2019 Acron (Veliky Novgorod) Announces Extraordinary General Meeting Acron’s Board of Directors resolved to convene an extraordinary general meeting in the form of absentee voting on 29 November 2019. The Board of Directors considered matters related to the general meeting preparation and approved its agenda as follows: Approving Acron’s charter as amended Approving the regulation on PJSC Acron general shareholder meeting Paying (declaring) dividends for 9M 2019 The record date for the persons entitled to attend the General Meeting is 5 November 2019 (end of business day). All the information to be provided to persons entitled to attend the general meeting, including Board of Directors recommendations on dividend amount, will be made available on the corporate website and submitted to the central depositary not later than on 8 November 2019. It will also be available at the Company’s domicile address. Media Contacts: Sergey Dorofeev Anastasiya Gromova Tatiana Smirnova Public

Conditions for sale of Riksbank certificates22.10.2019 09:30:00 CESTPress release

AUCTION DATE: OCT 22, 2019 START DATE: OCT 23, 2019 MATURITY DATE: OCT 30, 2019 NOMINAL AMOUNT: 380.5 BLN FIXED RATE: -0.25 % PROJECTED LIQUIDITY SURPLUS FOR THE PERIOD OCT 23-30 2019: 435.5 BLN SEK. AT FULL ALLOTMENT EXCESS LIQUIDITY WILL AMOUNT TO APPROXIMATELY 55 BLN SEK FOR THE PERIOD OCT 23-30 2019. ALL MONETARY POLICY COUNTERPARTIES ARE INVITED TO SUBMIT BIDS TO THE RIKSBANK (08-6966970) BY 10.00 AM ON OCT 22 2019, AT THE LATEST. CONFIRMATION OF BIDS TO E-MAIL: RBCERT@riksbank.se THE LOWEST ACCEPTED BID VOLUME IS SEK 1 MLN. THE HIGHEST ACCEPTED BID VOLUME IS SEK 380.5 BLN. RESULT OF AUCTION WILL BE PUBLISHED AT 10.15 (CEST) ON OCT 22, 2019. COMPLETE TERMS AND CONDITIONS CAN BE RETRIEVED AT WWW.RIKSBANK.SE

Ahold Delhaize announces appointment of Natalie Knight as Executive Vice President Finance and nominee for Chief Financial Officer and member of the Management Board22.10.2019 08:45:00 CESTPress release

Zaandam, the Netherlands, October 22, 2019 – Ahold Delhaize announces today the appointment of Natalie Knight as Executive Vice President Finance for Ahold Delhaize and member of the Executive Committee, effective March 1, 2020. Natalie will be nominated by the Supervisory Board to be appointed as Chief Financial Officer and a member of the Management Board at the Annual General Meeting (AGM) of Shareholders in April 2020, officially succeeding Jeff Carr, who will leave Ahold Delhaize when his current term expires in April 2020. The month overlap will ensure a seamless transition. Natalie joins Ahold Delhaize from Arla Foods, a global dairy company based in Denmark, where she most recently has served as Chief Financial Officer, overseeing the company’s Finance, Legal, and IT functions. In this role, she was instrumental in the company’s transformation and efficiency program, called Calcium, which meaningfully lowered the company’s cost basis. In addition, Natalie led the company’s digi

PÅMINNELSE: Pressinbjudan: Hur står det till med statsfinanserna och svensk ekonomi?22.10.2019 08:20:00 CESTPressemelding

PÅMINNELSE - Pressinbjudan Hur kommer statsfinanserna och svensk ekonomi att utvecklas? Hur kommer statens lånebehov att se ut framöver? Riksgälden presenterar sin senaste helhetsbild på en pressträff. Tid och plats: Onsdagen den 23 oktober kl. 10.00 på Olof Palmes gata 17, plan 4. Medverkande: Riksgäldsdirektör Hans Lindblad, chefekonom Mattias Persson och Magdalena Belin, analys- och utvecklingschef på Skuldförvaltning med flera. Rapporten Statsupplåning - prognos och analys 2019:3 publiceras på Riksgäldens webbplats samma dag kl. 9.30 tillsammans med ett pressmeddelande. Anmälan sker till malin.hasselbladwennstrom@riksgalden.se senast den 23 oktober kl. 09.30. Medtag presslegitimation. Kontakt Riksgäldens pressfunktion 08 613 47 01

Ahold Delhaize share buyback update22.10.2019 08:03:00 CESTPress release

Zaandam, the Netherlands, October 22, 2019 – Ahold Delhaize has repurchased 822,474 of Ahold Delhaize common shares in the period from October 14, 2019 up to and including October 18, 2019. The shares were repurchased at an average price of €22.96 per share for a total consideration of €18.9 million. These repurchases were made as part of the €1 billion share buyback program announced on November 13, 2018. The total number of shares repurchased under this program to date is 38,635,971 common shares for a total consideration of €836.8 million. Download the share buyback transactions excel sheet for detailed individual transaction information from www.aholddelhaize.com/en/investors/share-information/share-buy-back-programs/ This press release is issued in connection with the disclosure and reporting obligation set out in Article 2(2) of the EU Regulation that contains technical standards for buyback programs.