hurricane Patricia 2015

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Early hurricane Patricia insured loss estimates range up to $500m

Early estimates of insurance and reinsurance industry losses due to hurricane Patricia are in a range of up to $500m, with the eventual total expected to be significantly lower than had initially been expected when Patricia became one of the strongest recorded hurricanes.Insurance industry losses due to onshore property damage read the full article →

MultiCat Mexico cat bond facing hurricane Patricia loss, but how much?

The $100m tranche of MultiCat Mexico Ltd. (Series 2012-1) Class C catastrophe bond notes look almost certain to face a loss from the impact of hurricane Patricia yesterday, but the question now, due to the parametric triggers conditions, is how much.Hurricane Patricia weakened on approach to the Mexican coastline, but read the full article →

Cat bond market pricing MultiCat Class C for potential loss

The catastrophe bond market seems to be on the verge of accepting that the $100m of MultiCat Mexico Ltd. (Series 2012-1) Class C catastrophe bond notes are destined for a loss, given hurricane Patricia's continued approach as a major storm towards the parametric trigger zone.Update 24th October: MultiCat Mexico cat read the full article →

Hurricane Patricia intensifies further, MultiCat cat bond risk rising

Hurricane Patricia has intensified rapidly into one of the strongest Category 5 storms on record in the region, threatening a devastating blow to Mexico when it makes landfall late on Friday and with the potential to trigger the MultiCat Mexico Ltd. (Series 2012-1) Class C catastrophe bond notes.Update 24th October: read the full article →

Hurricane Patricia heads for Mexico, MultiCat cat bond at risk?

Read our latest on Hurricane Patricia here. Hurricane Patricia formed this morning off the Pacific coast of Mexico. With sustained winds of 85mph currently the forecast calls for Patricia to strengthen towards a Cat 3 or stronger landfall, perhaps putting the Class C notes of the MultiCat Mexico Ltd. (Series read the full article →