Hurricane
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A hurricane watch is now in effect for the Louisiana coastline. -
Most of the ILS capital was attracted to the cat bond market.
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Cat bond funds continue to draw interest as private ILS more challenged.
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The broker said it expects strong ILS capital inflows to continue.
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Returns were down on 2023, which benefited from favourable Ian loss development.
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The storm made landfall on Saturday as a Category 1 hurricane.
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Ernesto’s maximum sustained winds have reached 100 mph.
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Flights cancelled as typhoon ramps up to Cat 4.
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Ernesto is expected to track past Bermuda on Saturday with hurricane conditions.
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Moody’s also predicts losses to the NFIP at less than $300mn.
