hurricane Maria 2017

Hurricane Maria which has been churning through the Atlantic following its devastating hit on Dominica, Puerto Rico and the Caribbean, now poses a growing threat to the United States, as its track shifted a little west and tropical storm and storm surge watches were raised for parts of the coast.

According to market sources, both traders and ILS fund managers, following the impacts of hurricanes Harvey and Irma a number of industry-loss warranty (ILW) contracts are expected to payout, with the total at risk seen as in the billions.

The first full-year profit warning from a major reinsurance firm has been issued this morning by Talanx owned, German headquartered global player Hannover Re, which said the combined losses from recent catastrophe events could surpass its major loss budget.

Hurricane Maria has intensified into the second devastating storm to pass through the Caribbean in less than a fortnight, as the hurricane reached 160 mph sustained winds before making striking Dominica. Hurricane Maria’s winds had intensified to Cat 5 at 175 mph, now down to 155 mph again, but it could maintain this strength as […]

An updated article on hurricane Maria can be found here. Previous article: Hurricane Maria is nearing the Caribbean Leeward islands with sustained winds currently at 120 mph and higher gusts, as of 3:00 PM UTC September 18th, but the storm, now a major Category 3 hurricane, could keep intenfsiying as it targets the islands and […]