hurricane Matthew 2016

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50% of mid-estimate $5bn Matthew loss to fall to reinsurance: JPM

Analysts at J.P. Morgan have said that an approximate $5 billion insured industry loss from hurricane Matthew would see reinsurers front roughly 50% of the bill, and would see Europe’s big four reinsurers call on divergent levels of retrocession.Insurance and reinsurance industry loss estimates from the impact of hurricane Matthew, read the full article →

AIR puts hurricane Matthew insured loss at up to $8.8bn

Risk modelling firm AIR Worldwide has provided its initial estimate of insurance and reinsurance industry losses from hurricane Matthew, putting the figure somewhere in a range from $2.8 billion to as high as $8.8 billion across the United States and the Caribbean.AIR Worldwide estimates that insurance and ultimately reinsurance industry read the full article →

FedNat to call on reinsurance for hurricane Matthew, HCI to retain

Primary insurance company loss estimates are now being announced, with the latest being Federated National Insurance (FedNat), which is set to call on its reinsurance panel, while Homeowners Choice Group (HCI) said the loss will not trigger reinsurance recoveries outside of HCI.The first primary insurer to announce a loss estimate read the full article →

KCC puts hurricane Matthew insured losses at $7 billion

Risk modelling company Karen Clark & Company (KCC) has estimated that the insurance and reinsurance industry will be liable for an industry loss of around $7 billion from hurricane Matthew's impact on the United States.KCC is the second risk modelling firm to publish an official estimate of insurance and reinsurance read the full article →

Heritage puts Matthew losses below $100m, Citrus Re cat bonds safe

Heritage Insurance Holdings Inc. said it expects its losses from hurricane Matthew will be less than $100m, with losses above a $40m retention falling within the insurers reinsurance tower but missing the $727.5m of Citrus Re catastrophe bonds.The riskiest of the Citrus Re catastrophe bonds attaches at $200m of losses read the full article →

Matthew losses to largely fall within catastrophe budgets: Peel Hunt

Losses to the insurance and reinsurance industry from hurricane Matthew are expected to largely fall within the sector's catastrophe budgets for the second half of 2016, according to analysts at Peel Hunt.As we wrote earlier today, the early insurance and reinsurance industry loss estimates suggest an impact to the sector read the full article →

Laetere Re & First Coast Re cat bonds trade down on Matthew

All three tranches of the Laetere Re Ltd. (Series 2016-1) catastrophe bond and the single tranche of the First Coast Re Ltd. (Series 2016-1) cat bond, traded down at lower and even distressed pricing at the back-end of last week due to hurricane Matthew's approach.Hurricane Matthew's approach created significant uncertainty read the full article →

Cat bond index in biggest drop since 2012 on hurricane Matthew

The Swiss Re Global Cat Bond Index has declined by the largest amount since 2012 on the threat posed by hurricane Matthew's approach towards Florida, as mark to market losses flowed through into investor and brokers cat bond pricing expectations.As hurricane Matthew approached last week it became clear that scenario read the full article →

Early Hurricane Matthew insured loss estimates suggest up to $6bn

Insurance and reinsurance sector losses from hurricane Matthew are currently converging on a total impact of around $6 billion, but it is still very early to put a figure on the impact of Matthew given the large area of U.S. coastline affected.Risk modelling firm CoreLogic is the first to offer read the full article →

ILS investors to share “material portion” of Matthew loss: Dubinsky

Investors in insurance-linked securities (ILS) funds (or other structures such as sidecars) will share a "material portion" of the eventual losses from hurricane Matthew, according to Bill Dubinsky of Willis Capital Markets & Advisory (WCMA).It remains too early to discuss the exact estimated loss that will result from hurricane Matthew, read the full article →