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Aggregated losses are likely to be around the long-term H1 average of $8.5bn. -
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Cat bond spreads stabilised as maturities brought capital to deploy into the market, after an earlier spike.
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Grenada and St Vincent and the Grenadines are under the most threat from the storm.
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The broker estimated ILS capacity reached a record $107bn as cat bond interest surged.
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The broker said high ILS maturities would boost cat bond issuance though the hurricane season would impact capital availability.
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Berkshire Hathaway and Canada Life Re will provide as much as A$680mn of protection annually.
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The model uses machine learning and daily data to forecast hurricane seasons.
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Riots erupted in the Pacific Island territory last month over electoral reforms.
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The claims tally has increased 7% since the last estimate a month ago.
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Tropical Storm Alberto, the first named storm of this year’s Atlantic hurricane season, made landfall this morning over Mexico and Texas, bringing heavy winds and gusty rains, according to the US National Hurricane Center (NHC).
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This takes pre-tax year-to-date cat losses to $2.62bn.
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