Hurricane Ida 2021

Insurance and reinsurance market losses from hurricane Ida could reach as high as $21 billion, according to analysis from data and analytics company CoreLogic.

A number of catastrophe bonds have been marked down in end of month secondary market pricing sheets, with some of the anticipated names suffering declines of between 25% and 35% in value.

The insurance and reinsurance market loss from hurricane Ida is estimated to be close to US $18 billion, according to modelled analysis from catastrophe risk specialist Karen Clark & Company.

A reasonable amount of the ultimate insurance market loss from hurricane Ida is expected to be shared with reinsurance capital, which rating agency AM Best believes will provide further momentum to already rising reinsurance pricing at renewals.

Hurricane Ida is expected to result in a significant loss event for the reinsurance market according to Fitch Ratings, who also believe that some aggregate covers may be at-risk of attaching on the back of Ida’s industry impact.

Hurricane Ida’s losses are anticipated to flow through the insurance market and hit the reinsurance market through quota shares and excess-of-loss arrangements, according to Moody’s Investors Service.

Losses from hurricane Ida may fall more to reinsurance capital providers, as the start of 2021 has seen some US primary insurance carriers using up a significant amount of their catastrophe budgets. But still, analysts don’t feel the hurricane will have a particular influence on renewal rates or market dynamics.

Hurricane Ida’s insurance and reinsurance industry loss may fall between $15 billion and $25 billion based on early indications from modelling data, according to specialist ILS manager Twelve Capital.

Hurricane Ida made landfall as a strong Category 4 storm with sustained winds of 150 mph yesterday in Louisiana, close to Port Fourchon. Market sources suggest an insurance and reinsurance industry loss into the double-digit billions of dollars is likely, with $15 billion to $20 billion (perhaps a little higher) seen as a reasonable area […]

As hurricane Ida moves closer to making landfall in Louisiana today, as a strong Category 4 storm with sustained winds of around 150 mph, Plenum Investments has said that minor impacts to its range of catastrophe bond funds are expected if Ida continues on the forecast track.