2024 Atlantic hurricane season

Investment manager Twelve Capital feels that the spread being taken when investing into catastrophe bonds compensates for the shorter-term risk being taken from the hurricane peril, noting that pricing of cat bonds is based on a longer-term view than just a single hurricane season.

Tropical Storm Risk (TSR) has today raised its forecast for the 2024 Atlantic hurricane season, now saying it expects a “hyperactive” level of activity, with 11 Atlantic hurricanes now anticipated and 3 forecast likely to make landfall in the US.

Colorado State University’s tropical meteorology team led by Phil Klotzbach have issued their first forecast for the 2024 Atlantic hurricane season, estimating that 23 named storms, 11 hurricanes and 5 major hurricanes will be seen, while landfall probabilities are also forecast to be elevated.

The 2024 Atlantic hurricane season could result in an above average number of direct impacts to the United States, with the Texas coast, Florida Panhandle, South Florida and the Carolinas all facing a higher-than-average risk this year, AccuWeather has said.

An increasing number of forecasters and meteorologists say to expect a very busy 2024 Atlantic hurricane season, with conditions looking primed for high levels of tropical cyclone activity and WeatherTiger’s models indicate a 75% chance the hurricane season will count as hyperactive, while its model also suggests elevated landfall risk for the United States.

According to Artemis’ sources, activity in the industry-loss warranty (ILW) market has increased in the last few weeks, as reinsurance and insurance-linked securities (ILS) markets prepare for what is anticipated to be an active 2024 Atlantic hurricane season.

Speaking today at the SIFMA ILS conference in Miami, Phil Klotzbach, Ph.D., a Senior Research Scientist at the Department of Atmospheric Science of the Colorado State University, provided some insights into what to expect for the coming 2024 Atlantic hurricane season.

Seasonal forecasts for tropical storm and hurricane activity issued at this time of year are often seen as needing to be taken with a large pinch of salt, but another early forecast from the ECMWF is seen as particularly aggressive and so worth highlighting, in calling for 17 named storms and 9 hurricanes in the […]

It’s that time of year when we anticipate a range of seasonal hurricane forecasts to be published over the coming weeks, but long-range forecasts are already calling for the 2024 Atlantic hurricane season to be extremely active, with one forecaster calling for a “hurricane season from hell” in 2024.

The first of the long-range forecasts for the 2024 Atlantic hurricane season has now been published and while these extended range outlooks should be treated as very broad guidance for what to expect, the team at Tropical Storm Risk (TSR) anticipate activity 30% above the near and 50% above the long-term norms.