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Hurricane Michael industry loss said up to $10bn by RMS

The industry loss to insurance and reinsurance interests from hurricane Michael is estimated to be somewhere between $6.8 billion and $10 billion by RMS, with the majority driven by wind damage to residential properties.RMS' industry loss estimate for hurricane Michael aligns with others that suggest the final bill to the read the full article →

No cat bond loss expected from hurricane Michael: Plenum

The eventual insurance and reinsurance industry loss from last weeks hurricane Michael is not expected to trigger any of its catastrophe bond positions, according to specialist insurance-linked securities (ILS) investment manager Plenum.Zurich based specialist insurance-linked securities (ILS) and catastrophe bond investment manager Plenum Investments said that the hurricane would not read the full article →

ILS market exposure to hurricane Michael not material: Fitch

The insurance-linked securities (ILS) market's exposure to hurricane Michael is not expected to be material, according to Fitch Ratings, although some losses will fall to collateralized reinsurance and quota shares exposed to the lower layers of programs covering the affected region.With hurricane Michael's industry losses from wind and storm surge read the full article →