US Southeast/Gulf
-
State legislation has led to major strides in rate adequacy. -
Category 4 and 5 storms could become more common and hit further north.
-
Despite predicting fewer hurricanes, the numbers are still above average.
-
PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
-
Most of the losses are attributable to a supercell storm in Texas.
-
TSR previously predicted activity slightly below the 1995-2024 average.
-
The agency forecasts up to five major hurricanes and 19 named storms.
-
Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
-
An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
-
The insurer has lined up Piper Sandler and KBW to run the process.
-
The bond upsized by around 20% as pricing settled 2% below initial guidance at 7%.
-
The cat bond manager warned of excess downside risk owing to an accumulation of losses.
