hurricane Sandy

Here’s an interesting side-story on Sandy where a U.S. state schools pension fund was in the path of hurricane Sandy, Pennsylvania was a state impacted by the storm, and now also faces a potential impairment to their investment portfolio because they have invested in a reinsurance-linked investment fund. The Pennsylvania Public School Employees’ Retirement System, […]

Risk modelling firm EQECAT have just issued an updated estimate of losses from hurricane Sandy now including post-landfall observations and analysis. EQECAT were the first modelling firm to come out with an early pre-landfall estimate of losses on Monday that pegged the insured loss at somewhere in the range of $5 billion to $10 billion. […]

As our readers will be aware there have been some movements in catastrophe bond bid and offer prices both as hurricane Sandy approached the U.S. coastline on Friday and so far this week. Trading was relatively light to begin with, according to various sources, as bid and offers were rarely close enough to find a […]

Another insurance-linked securities investment manager has come forward to discuss the impact or otherwise of hurricane Sandy on their investment portfolio. Swiss based Twelve Capital, who operate a number of investment opportunities in ILS, catastrophe bonds, private ILS and subordinated insurance bonds, have told us that based on their latest analysis they don’t expect an […]

Rating agency Standard & Poor’s has published its first update on the impact of hurricane Sandy to the insurance, reinsurance and catastrophe bond sector. Generally, S&P said that partly due to the strong earnings the sector has had so far in 2012, they expect Sandy will only have a limited impact on the ratings of […]

The Caribbean Catastrophe Risk Insurance Facility (CCRIF) has published a report suggesting that hurricane Sandy has not triggered the facility for any of its member countries. Three members were hit by Sandy, with Jamaica being first, then Haiti was impacted by Sandy’s rains and finally the Bahamas was next in Sandy’s path. The CCRIF says […]

The issue of business interruption and contingent business interruption insurance losses is becoming a major conundrum when it comes to estimating the total insured loss caused by hurricane and post-tropical storm Sandy. Business interruption claims can take weeks to develop, longer to be reported and quantifying the actual exposure is tricky. Add to that uncertainty […]

Sandy impact reports are coming in from all angles now. The latest is from Credit Suisse who have said that if industry losses from hurricane Sandy meet their expectations, they expect an impact to one of their insurance-linked security and catastrophe bond funds. As well as affecting the CS IRIS Low Volatility Plus fund, it […]

We have another estimate of the insured losses caused by hurricane Sandy from risk modeller AIR Worldwide and it’s higher than previous estimates which were largely pre-landfall. After analysing the impact of Sandy and with the additional insight gleaned from damage reports received so far, AIR Worldwide estimates that insured losses from Sandy to onshore […]

Swiss insurance-linked securities investment manager Plenum Investments continues to be proactive in communicating with its investors on the potential impact that hurricane Sandy could have on its ILS fund. Earlier today we wrote that they expected no loss to and of the catastrophe bonds in their fund. That remains the case, but in a display […]