tropical storm irene

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Insurance-linked security and retrocessional reinsurance funds report minimal or no impact from hurricane Irene

We've spoken with a number of fund managers in the last two days to gauge their opinions as to their funds exposure to losses due to the impact of hurricane Irene. Irene, was the first hurricane of the 2011 Atlantic Hurricane Season and struck the U.S. coast at North Carolina read the full article →

Hurricane Irene estimated to have caused $3 billion to $6 billion in U.S. losses; AIR Worldwide

Risk modelling firm AIR Worldwide have released an estimate for insured losses to U.S. onshore properties from hurricane Irene. They expect the final bill to be somewhere in the $3 billion to $6 billion range for re/insurers. This estimate includes wind and storm surge damage to onshore residential, commercial and read the full article →

Hurricane Irene fails to trigger Caribbean Catastrophe Risk Insurance Facility

While hurricane Irene resulted in losses and damages in six of the Caribbean Catastrophe Risk Insurance Facility (CCRIF) member countries (Anguilla, Antigua & Barbuda, the Bahamas, Haiti, St. Kitts & Nevis and the Turks & Caicos Islands), the damages were not severe enough to trigger any payments under the terms read the full article →

Early estimates of hurricane Irene insured losses put at up to $3 billion

Hurricane Irene weakened sufficiently both prior to landfall in North Carolina and as she moved up the U.S. coastline to significantly reduce the potential for insured losses from the storm. Early estimates from risk modelling firms EQECAT and Kinetic Analysis both suggest that insured losses of up to a maximum read the full article →

Weakened hurricane Irene approaching New York and major northeast U.S. cities

It's clear now that hurricane Irene will come very close to New York city and that on her passage to the north she will affect many of the major northeast U.S. population centres. Hurricane Irene is a Category 1 storm with maximum sustained winds of 80mph. By the time she read the full article →

Hurricane Irene, update prior to landfall

Update: Irene made landfall around 7.30am ET about 60 miles south west of Cape Hatteras with maximum sustained winds of 85mph.The centre of Irene will move across eastern North Carolina today and over southern New England tomorrow, Sunday. Irene is forecast to remain a hurricane as it moves near or read the full article →

Hurricane Irene batters Bahamas, takes aim at U.S. coast

Hurricane Irene has now left the Bahamas islands behind after striking them with devastating winds and storm surges. The main capital of Nassau escaped the brunt of the storm but other, less inhabited islands such as Abaco, took a near direct hit and will be counting the cost this morning. read the full article →

Hurricane Irene a potential threat to many catastrophe bonds

Hurricane Irene has now intensified into a major Category 3 hurricane with maximum sustained winds of 115mph. The storm is forecast to intensify further as she makes her way through the Bahamas before heading for the U.S. coastline. Where exactly she will hit the U.S. coast, or if she even read the full article →

Intensity and direction of hurricane Irene increasingly uncertain

Weather conditions are making it increasingly difficult to forecast how powerful hurricane Irene will get and the direction she will head in towards the U.S. coastline. The forecast path of hurricane Irene predicted by the models has shifted slightly further east, showing a landfall late Saturday afternoon somewhere between Wilmington read the full article →

Hurricane Irene intensifying, heading for Turks & Caicos, Bahamas and the U.S.

Update: Hurricane Irene has now become a strong Category 2 hurricane with maximum sustained winds of 100mph and higher gusts. Forecasts now show Irene strengthening further to a Category 3 storm with winds of up to 125mph by the time the storm passes through the Bahamas and could make Category read the full article →