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The insured loss from Beryl in the US was pegged at $2.7bn. -
Industry losses of $800mn-$1.2bn are expected from Beryl's impact in Texas.
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Hurricane Beryl was a “harbinger of a hyperactive season,” CSU said.
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Chief science officer Steve Bowen said it was still too early to provide precise insured-loss estimates.
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Secondary market activity and hedging would be likely if a Beryl-sized storm tracked toward the US.
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Houston mayor John Whitmire said: “We woke up this morning on the dirty side of a dirty hurricane.”
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Beryl has been downgraded to a tropical storm but is still life-threatening, with news media reporting two deaths so far.
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Sources said that Japanese big-three carrier Sompo and Italian insurance giant Generali are circling.
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Availability of ILS has so far fulfilled investor demand.
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The latest Insider ILS Outstanding Contributor for the year said 2011 was an under-appreciated turning point for the market.
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According to BMS, Hurricane Beryl is likely to be a retained event for most insurance carriers.
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Insured losses could be less than $1bn if current NHC forecasts are accurate.
