Market Snapshot
  • U.S.
  • Europe
  • Asia
Ticker Volume Price Price Delta
DJIA 16,408.54 -16.31 -0.10%
S&P 500 1,864.85 2.54 0.14%
NASDAQ 4,095.52 9.29 0.23%
Ticker Volume Price Price Delta
STOXX 50 3,155.81 16.55 0.53%
FTSE 100 6,625.25 41.08 0.62%
DAX 9,409.71 91.89 0.99%
Ticker Volume Price Price Delta
NIKKEI 14,516.27 98.74 0.68%
TOPIX 1,173.37 6.78 0.58%
HANG SENG 22,760.24 64.23 0.28%

Philippines devastated by super typhoon as U.S. and New Zealand suffer record severe weather: Impact Forecasting December



Philippines devastated by super typhoon as U.S. and New Zealand suffer record
        severe weather: Impact Forecasting December catastrophe report

PR Newswire

CHICAGO, Jan. 7, 2013

CHICAGO, Jan. 7, 2013 /PRNewswire/ -- Impact Forecasting, the catastrophe
model development center of excellence at Aon Benfield, today releases the
latest edition of its monthly Global Catastrophe Recap report, which reviews
the natural disaster perils that occurred worldwide during December 2012. Aon
Benfield is the global reinsurance intermediary and capital advisor of Aon plc
(NYSE:AON).

(Logo: http://photos.prnewswire.com/prnh/20100719/AQ37264LOGO)

The report is a precursor to Aon Benfield's Annual Global Catastrophe report,
which will be launched on January 24, 2013, and will provide a month-by-month
detailed analysis of the worldwide weather events of 2012 in addition to
comprehensive climatological analysis.

The December catastrophe report reveals that Super Typhoon Bopha killed 1,901
people and injured 2,666 others after making landfall on the southern
Philippine island of Mindanao as a Category 5 typhoon.

Bopha damaged or destroyed more than 216,000 homes in 34 provinces including
Davao Oriental and Compostela Valley which sustained extensive damage.

Economic losses to agriculture, infrastructure and private property were
recorded at PHP37 billion (USD802 million), with an additional PHP5 billion
(USD122 million) allocated to the rehabilitation of farms. In Palau, Bopha
caused USD20 million in damage.

Also in the Philippines, Tropical Storm Wukong left at least 24 people dead or
missing, with reported losses to agriculture and infrastructure recorded at
PHP225 million (USD5.5 million).

Elsewhere, Cyclone Evan crossed the Samoan Islands, Fiji, Tonga and other
small islands in the South Pacific Basin, killing at least 14 people.

In Samoa, Evan caused extensive damage along coastal areas, with total
economic losses estimated at WST300 million (USD133 million); in Fiji,
economic losses were estimated at FJD15 million (USD8.4 million).

Steve Jakubowski, President of Impact Forecasting, said: "The cyclonic weather
that Southeast Asia and the South Pacific experienced during December has had
a devastating effect on local populations. Insurance and reinsurance
penetration in the affected territories is significantly lower than in the
more mature western markets, so the impact of a weather system such as Super
Typhoon Bopha on the Philippines places an even greater strain on regional
recovery efforts and the availability of sufficient government aid."

Also in December, winter storms impacted the United States and parts of
Europe. In the U.S., The Plains, Midwest, Northeast and the Mid-Atlantic
States endured heavy accumulating snowfall as the inclement weather prompted
major travel delays. On Christmas Day, 28 tornadoes were recorded in the
Southeast – historically the largest tornado outbreak to occur on December 25.

In Europe, at least 277 people were killed as more than 15 central and eastern
countries were subjected to severe winter weather conditions, leading to
widespread damage, the closure of hundreds of roads, and the cancellation of
flights and shipments along the Danube River after certain stretches became
frozen.

Meanwhile, New Zealand endured its deadliest tornado in 60 years. At least
three people were killed after the EF-2 twister struck the west Auckland
suburb of Hobsonville, damaging or destroying at least 150 homes near
Whenuapai Air Force Base. New Zealand's Ministry of Civil Defense estimated
total damages at NZD11 million (USD9.1 million).

Flooding was prevalent across parts of Asia in December, with Sri Lanka
sustaining the worst effects. At least 42 people were killed and nearly 30,000
homes damaged or destroyed in addition to agriculture and infrastructure,
after flooding and landslides impacted most of the country.

In Indonesia, three people were killed in West Sumatra's Solok Selatan
district after rains caused a landslide which destroyed more than 2,000 homes.

The Iraqi capital of Baghdad sustained its heaviest rains in at least 30
years, triggering floods that killed at least four people.

To view the full December Global Catastrophe Recap report, click the link
below:

http://thoughtleadership.aonbenfield.com/Documents/20130107_if_monthly_cat_recap_december.pdf

About Impact Forecasting®

Impact Forecasting is a catastrophe modeling center of excellence whose
seismologists, meteorologists, engineers, mathematicians, finance risk
management and insurance professionals analyze the financial implications of
natural and man-made catastrophes around the world.  Impact Forecasting's
experts develop software tools and models that help clients understand risks
from hurricanes, tornadoes, earthquakes, wildfires and terrorist attacks on
property, casualty and crop insurers and reinsurers.  To find out more about
Impact Forecasting®, visit www.impactforecasting.com.

About Aon Benfield

Aon Benfield, a division of Aon plc (NYSE: AON), is the world's leading
reinsurance intermediary and full-service capital advisor. We empower our
clients to better understand, manage and transfer risk through innovative
solutions and personalized access to all forms of global reinsurance capital
across treaty, facultative and capital markets. As a trusted advocate, we
deliver local reach to the world's markets, an unparalleled investment in
innovative analytics, including catastrophe management, actuarial and rating
agency advisory. Through our professionals' expertise and experience, we
advise clients in making optimal capital choices that will empower results and
improve operational effectiveness for their business. With more than 80
offices in 50 countries, our worldwide client base has access to the broadest
portfolio of integrated capital solutions and services. To learn how Aon
Benfield helps empower results, please visit aonbenfield.com.

About Aon

Aon plc (NYSE:AON) is the leading global provider of risk management,
insurance and reinsurance brokerage, and human resources solutions and
outsourcing services. Through its more than 62,000 colleagues worldwide, Aon
unites to empower results for clients in over 120 countries via innovative and
effective risk and people solutions and through industry-leading global
resources and technical expertise. Aon has been named repeatedly as the
world's best broker, best insurance intermediary, reinsurance intermediary,
captives manager and best employee benefits consulting firm by multiple
industry sources. Visit www.aon.com for more information on Aon and
www.aon.com/manchesterunited to learn about Aon's global partnership and shirt
sponsorship with Manchester United.

Media Contacts:
David Bogg                 Andrew Wragg                 Alexandra Lewis
Aon Benfield               Aon Benfield                 Aon Benfield
t: +44 (0)20 7522 4016     t: +44 (0)20 7522 8183       t: +44 (0)20 7882 0541
e:                         e:                           e:
david.bogg@aonbenfield.com andrew.wragg@aonbenfield.com alexandra.lewis@aonbenfield.com

SOURCE Aon plc

Website: http://www.aon.com
Website: http://www.impactforecasting.com
Website: http://aonbenfield.com
Sponsored Links
Advertisement
Advertisements
Sponsored Links
Advertisement