Property
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The ratings agency expects insured losses of around $5bn for Helene. -
Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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An unexpected shift east towards Tampa could push losses beyond $10bn.
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The effort will draw from California’s research and higher education communities.
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The estimate is like others in the market, suggesting a relatively small loss from the event.
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Brokers expect strong competition at remote risk layers at the 1 January renewal.
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The ratings agency said companies focused on growing business in Gulf Coast states, however, would face a “key test” as claims materialised.
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Nick Pritchard has been appointed underwriting portfolio and alternative capital manager.
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A strong forward pipeline will require fast work by ILS investment houses.
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Francine has been the eighth Category 2 or larger storm to make landfall in Louisiana since 2000.
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‘Life-threatening’ storm surge and hurricane-force winds expected for the state, according to the NHC.
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The estimate from the Perils-owned company does not include any losses from Hurricane Debby.
