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Plenum says estimated $50bn hurricane Ian to dent its cat bond funds

Plenum Investments has published an update on the potential for losses to catastrophe bonds after major hurricane Ian's impacts in Florida, saying that, at an industry loss level estimated to be around $50 billion, its cat bond funds could suffer a loss of roughly one annual target return in USD. Earlier read the full article →

Hurricane Ian approaching South Carolina coast with 100 mph gusts

Hurricane Ian is approaching its second landfall on the South Carolina coast today, with sustained winds of 85 mph and gusts estimated at just over 100 mph, while a life threatening storm surge is forecast for parts of the seaboard. While hurricane Ian's impacts on the Carolinas will likely pale in read the full article →

Hurricane Ian industry loss estimated up to $40bn by Fitch

Another data point for those looking at the implications of major hurricane Ian's path through Florida, rating agency Fitch says the insurance and reinsurance market loss is likely up to $40 billion. Fitch Ratings said that, based on its initial analysis, insured losses from hurricane Ian could range from $25 billion read the full article →

Hurricane Ian to force a reevaluation: Millette, Hudson Structured

Coming on the heels of five heavy catastrophe loss years, major hurricane Ian's impacts in Florida and the resulting insurance, reinsurance and ILS market loss, could trigger a wholesale reevaluation of the provision of catastrophe insurance protection, according to Michael Millette. The insurance-linked securities (ILS) market, including catastrophe bonds will need read the full article →

Hurricane Ian to cause Florida indemnity & FloodSmart cat bond losses: Twelve

Hurricane Ian's impact is likely to cause losses to some Florida focused indemnity catastrophe bonds, as well as to some of the NFIP's FloodSmart Re cat bond series, according to investment manager Twelve Capital. In an update published on Thursday, Twelve Capital, the Zurich-headquartered insurance-linked securities (ILS) and reinsurance linked fund read the full article →

Hurricane Ian Florida insured wind & surge losses $28bn – $47bn: CoreLogic

Major hurricane Ian is estimated to have caused an insurance and reinsurance industry loss of between $28 billion and $47 billion just from wind and storm surge damage in Florida, according to CoreLogic. Calling hurricane Ian the "costliest Florida storm since hurricane Andrew", CoreLogic said the impacts of the storm will read the full article →

Ian forecast to make second hurricane landfall in South Carolina

While the insurance, reinsurance and insurance-linked securities (ILS) industry works to understand its exposure to hurricane Ian's major landfall event in Florida, the storm has now crossed that state, emerged back into the Atlantic and is forecast to make a second hurricane force landfall in South Carolina tomorrow. At the moment, read the full article →

Hurricane Ian economic loss in Florida around $65bn: RMSI

The economic loss from major hurricane Ian's impacts in Florida has been initially estimated at around $65 billion by global GIS and geospatial technology company RMSI. RMSI is the first company to publish an official estimate and while its not for insurance, reinsurance and ILS market losses, it does provide more read the full article →

Hurricane Ian: Rapid weakening may see losses nearer $32.5b, says KBW

Some further insight on the potential quantum of industry loss faced by the insurance, reinsurance and ILS market from major hurricane Ian, as KBW analyst Meyer Shields said he believes the relatively rapid weakening of the storm after landfall could mean losses settle closer to the bottom of a $32.5 read the full article →

Cat modeller data hinted at hurricane Ian’s $50bn+ industry loss potential

According to sources of and data seen by Artemis, last night catastrophe risk modelling specialists had been hinting at major hurricane Ian having the potential to deliver a global insurance, reinsurance and ILS market loss of more than $50 billion, in updates sent to their clients. We're told these client updates read the full article →