US Southeast/Gulf
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Many commercial risks will have London coverage, but insured values are relatively low. -
Economic losses from the Cat 5 storm could run 30%-250% of the country’s GDP.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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The tropical cyclone is expected to be named Imelda.
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Despite the formation of Gabrielle, there is "a very high probability" of a below-average season.
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State legislation has led to major strides in rate adequacy.
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Category 4 and 5 storms could become more common and hit further north.
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Despite predicting fewer hurricanes, the numbers are still above average.
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PCS's loss estimate for the March Missouri SCS pushed the bond beyond its exhaustion point.
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Most of the losses are attributable to a supercell storm in Texas.
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TSR previously predicted activity slightly below the 1995-2024 average.
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The agency forecasts up to five major hurricanes and 19 named storms.
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Proceeds will expand the company’s reinsurance protection in Florida and South Carolina.
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An allocation to insurance could “feel like a nice, calm port in the storm” amid wider market volatility.
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The insurer has lined up Piper Sandler and KBW to run the process.
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The bond upsized by around 20% as pricing settled 2% below initial guidance at 7%.
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The cat bond manager warned of excess downside risk owing to an accumulation of losses.
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The multi-day weather outbreak caused widespread damage from Texas to the Carolinas.
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The 2024 hurricane season stayed within predictions for high activity but lacked market-moving events.
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Twia’s SCS losses in Q1-Q3 2024 have been more than double the budgeted amount.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15 ft for Tampa Bay.
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A hurricane warning has been issued for the east coast of Florida.
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Hurricane Milton strengthened from a tropical storm on Sunday to a Category 5 storm yesterday.
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Milton is expected to move north of the Yucatan Peninsula today and cross the eastern Gulf of Mexico by Wednesday.
