hurricane Maria 2017

A number of equity analyst teams have adjusted their expectations for price hardening as a result of the impacts of hurricane Maria with the potential for reinsurance price rises, at least in localised property catastrophe regions, right through 2018 now anticipated, but these are not expected to be high enough to provide the payback some […]

A number of insurance-linked securities (ILS) and collateralized reinsurance investment funds are facing a negative return for August 2017, as losses and loss expectations from hurricane Harvey resulted in write-downs on investment positions, causing some funds to be negative for the month.

Catastrophe risk modelling firm RMS has issued its first estimate of hurricane Maria insurance and reinsurance losses today, putting the Caribbean economic impact at $30 billion to $60 billion and the insured loss in a range from $15 billion to $30 billion.

Blue Capital Management, the Sompo International (previously Endurance) owned reinsurance and insurance-linked securities (ILS) investment manager, has begun an investigation and assessment of the impacts from Hurricane Maria, to identify any impacts to its flagship listed ILS fund vehicle.

The approach, impacts and industry loss expectations associated with hurricane Maria appears to have caused a further dip in the values of interval reinsurance and ILS funds managed by Stone Ridge Asset Management and Amundi Pioneer, suggesting both could have additional exposure to the storm.

With every major catastrophe loss event it’s common to hear discussion of whether it will be a hit to reinsurer earnings, or to their capital. 2017 was running as a definite earnings impact to the majority of reinsurers, but the addition of a high loss estimate for hurricane Maria’s Caribbean impact has moved Fitch’s opinion […]

Global reinsurance firm SCOR said that it expects the impacts of hurricanes Harvey, Irma and Maria will likely remain an earnings, rather than capital event, and that it does not expect its contingent capital facility will be triggered as a result of the losses it will suffer.

Equity analysts that track the insurance and reinsurance industry all seem to be shifting their opinions more in favour of broader rate rises in the reinsurance space, following the announcement from AIR Worldwide that hurricane Maria could add between $40 billion and $85 billion to the industry losses from recent catastrophes.

Hurricane Maria is estimated to have caused insurance and reinsurance industry losses of between $40 billion and $85 billion after its devastating passage through the Caribbean, according to AIR Worldwide, which is considerably higher than the market had been expecting.

Hurricane Maria has triggered the Caribbean island of Dominica’s parametric insurance coverage from the CCRIF SPC (formerly the Caribbean Catastrophe Risk Insurance Facility), resulting in a payout to the country of almost US $19.3 million.