Hurricane
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The biggest limitation to growth is supply, given ILS capital “reticence” after the 2016-22 years. -
The numbers will be refined further to arrive at an industry loss estimate.
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Moody’s described Hurricane Helene as “like Idalia but worse”.
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The storm made landfall as a major hurricane in Florida’s Big Bend region.
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The ratings agency expects insured losses of around $5bn for Helene.
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The manager is hopeful of closing all contracts by the end of 2024.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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The NFIP has a higher take-up rate in Tampa Bay, which experienced record coastal storm surge.
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Helene is expected to become a post-tropical low later today.
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More than one million Floridians are without power after the storm hit.
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Additional strengthening is expected before Helene makes landfall in Florida tonight.
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Only three storms have impacted a larger area than Helene since 1998.
