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It hit north of Tampa, and storm surge warnings for wider Gulf Coast were discontinued. -
It was upgraded to a category one hurricane by the National Hurricane Centre last night before being downgraded in a public advisory at 2am (EDT).
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It said the current threat posed by Tropical Storm Elsa was an example of storms being more likely to hit America’s Eastern Seaboard this season.
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The rebrand follows a last-minute acquisition of the firm by Aquiline-owned Lloyd’s syndicate ERS, in December of last year.
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Executives including AIG CEO Peter Zaffino, Aon CEO Greg Case and Munich Re CEO Joachim Wenning have joined the task force, chaired by Lloyd’s.
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The reinsurer’s analysis of 20 research groups’ predictions points to a busier season than usual.
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As new modelling tools emerge, we look at the benchmarks that ILS managers believe are appropriate for long-term stress tests and the shorter-term challenges.
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Funding from the UK and Germany will support early action and the managing of disaster risks in less wealthy countries.
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As providers manage their targets by premium dollars, and rising rates have boosted quota share income, this is leading to reinsurers hitting capacity earlier than expected.
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The platform has backing from ILS firm HSCM, although cyber paper was provided by HDI.
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Named storm predictions held stable from the agency’s April update at 17, up from an average of 14.
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The ILS vehicle has support from four key providers and will be launched alongside a broader offering including K&R, fine art and other specialty risks.
