Archive for August, 2019

Hurricane Dorian continues towards the Bahamas with a dangerous situation unfolding, with the Florida coastline still in the storms sights depending on the timing of its turn to the north. A major Category 5 storm as of the latest update, Dorian packs “devastating” hurricane speed winds, according to the NHC and the threat to the […]

As hurricane Dorian continues to approach the Bahamas and Florida, still at Category 2 strength but with the forecast continuing to show a major hurricane landfall, share prices of listed insurance-linked securities (ILS) funds and reinsurance firms are being affected.

If hurricane Dorian makes landfall on the Florida coastline at Category 3 or Category 4 strength, it potentially puts tens of billions of dollars of residential property at risk of storm surge damage.

Hurricane Dorian analogue storms from the past, so major category 3 and 4 hurricane landfalls in Florida with similar tracks, show a range of $11.3 billion to $37.2 billion of insurance and reinsurance industry losses, according to RMS.

Hurricane Dorian has now resulted in some catastrophe bond market activity, with a number of trades completed as certain insurance-linked securities (ILS) funds or investors look to reduce their Florida exposure.

Welcome to the Artemis ILS Asia 2019 post-conference report, in which we review the event and highlight some of the debates that took place on the day during Artemis’ third event in Asia.

Hurricane Dorian has strengthened considerably over night, now packing 110 mph sustained winds and higher gusts making the storm an already very dangerous Category 2. At the same time the forecast path has shifted further south, increasing the insured values in Dorian’s path.

Meteo Protect, the specialist parametric and weather index insurance underwriting agency that is a Lloyd’s of London coverholder, has launched an innovative API (application program interface) to its parametric insurance products, allowing anyone to launch a parametric insurance program more simply.

As traditional reinsurance firms continue to grapple with challenging market conditions and high-levels of competition, rating agency A.M. Best notes that access to cheaper capital and inventive ways to source risk will continue to be key to the evolution of reinsurance.

Hurricane Dorian continues to track towards Florida and is intensifying further, with the latest forecast suggesting it could reach Category 4 status, with sustained winds as high as 132 mph, and the hurricane is forecast to maintain similar levels of intensity right through to landfall.