Archive for September, 2024

According to analysts at RBC Capital Markets, given the wide-reaching impacts from hurricane Helene running from its landfall in Florida right the way through to catastrophic flooding in North Carolina, the eventual insurance market loss could even run into the double-digit billions of dollars.

Despite the fact reinsurance markets have typically retrenched higher-up after increases to attachments and raised prices through the recent hard market period, after hurricane Helene the dependence of specialist Florida property insurance carriers on their reinsurers remains a focus, according to AM Best.

This morning, we’re told that the significant flooding from rains associated with hurricane Helene throughout southeastern parts of the United States are bringing FEMA’s National Flood Insurance Program (NFIP) reinsurance tower and catastrophe bonds into some focus, although there is uncertainty over how a predecessor rainfall event prior to the storm even making landfall could […]

Prologis, Inc., the logistics, warehousing and supply-chain focused real estate owner and investor, is back in the catastrophe bond market for the second time, looking to sponsor a $95 million Logistics Re Ltd. (Series 2024-1) US earthquake focused issuance, as a renewal of its first cat bond.

Reinsurance broker Gallagher Re now expects that private insurance market losses from hurricane Helene will rise to the mid-to-high single-digit billion dollar level, higher than its initial pre-landfall forecast of $3 billion to $6 billion, according to Chief Science Officer and Meteorologist Steve Bowen.

The damage price tag from hurricane Helene’s impacts on the United States is expected to fall in a range from $20 billion to as high as $34 billion, with property damage a significant component at $15 billion to $26 billion, Moody’s Analytics has said.

Here are the ten most popular news articles, week ending September 29th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

Insured private market property losses from hurricane Helene’s winds and storm surge across the US states of Florida and Georgia are initially estimated in a range from $3 billion to $5 billion, according to CoreLogic.

Hurricane Helene made landfall last night away from more densely populated areas of Florida, in the Big Bend region, but despite extensive damage and significant storm surge, initial industry estimates suggest losses to per-occurrence catastrophe bonds seem unlikely at this time, according to Zurich-headquartered insurance-linked securities (ILS), catastrophe bond and reinsurance investment manager, Twelve Capital.

With climate change concerns on the rise for businesses around the world, a new report from CME Group has noted that average trading volumes for weather derivatives are seeing a boost in interest.