hurricane

Find our latest of Florence here. Hurricane Florence is now forecast to make a direct hit on the United States east coast in the Carolina’s late Thursday night into Friday, with the forecast path now taking a dangerous hurricane Florence ashore as a category 3 or 4 storm, with significant impacts possible.

Our latest on Florence can be found here. Hurricane Florence forecasts are increasingly pointing towards the possibility of a landfall somewhere on the U.S. east coast, with model spread now indicating anywhere the Carolina’s as the likely landfall spot, while intensity guidance still shows Florence regaining major hurricane status.

Risk models are challenged when it comes to estimating losses from complex hurricane events, according to a study by reinsurance broker JLT Re, which finds that overall there is a trend towards significant loss underestimation and that accuracy suffers when events have unforseen on un-modelled) consequences.

The insurance and reinsurance industry may be underestimating the frequency of major hurricanes, according to a research paper from the Bank Of England’s Insurance Division, which suggests that clustering of major storms into a single season could become more common.

The U.S. National Oceanic & Atmospheric Administration (NOAA) has predicted a 40% chance that the 2018 hurricane season in the central Pacific sees above-normal levels of activity, with the chance of an El Nino forming one factor that could result in more storms during the year.

Reinsurance and retrocessional reinsurance investment manager Markel CATCo Investment Management has implemented loss reserves for hurricanes Harvey, Irma and Maria amounting to 20% of net asset value for its listed retrocession strategy, the CATCo Reinsurance Opportunities Fund Ltd.

Catastrophe risk modelling firm RMS has said that it does not believe that the insurance and reinsurance industry will face any more than $500 million of losses from recent hurricane Nate’s wind and coastal flooding on the U.S. Gulf Coast.

The Bermuda re/insurance market is expected to face a bill of somewhere around $25 billion from recent hurricane events, with the capital markets set to pay a considerable share, through the islands alternative capital, collateralized reinsurance and ILS fund vehicles.

Reinsurance and retrocessional reinsurance investment manager Markel CATCo Investment Management has announced this morning its intention to raise funds, to take advantage of pricing opportunities being seen in the retrocessional reinsurance market and its requirement for new capital.

Markel CATCo Investment Management has delivered a warning to investors in its flagship listed CATCo Reinsurance Opportunities Fund Ltd. that full-year performance could be erased by the impacts of recent major catastrophe events.