insurance

The fact reinsurance arrangements have been thoroughly repriced and restructured over the last two years means that, as we move into the second-half and what can often be the heaviest loss period, there is a lower risk that the returns from reinsurance are affected, as primary carriers are set to retain more losses again this […]

According to risk modelling and catastrophe data firm CoreLogic, the insurable losses from hurricane Beryl’s impacts in the Caribbean and Mexico are expected to total no more than $1.7 billion.

Hurricane Beryl is back, having regained its hurricane strength wind speeds and now the storm heads for a Texas landfall. The fact Beryl took longer than anticipated to regain its structure and intensify again over the Gulf has likely saved the State from a more impactful catastrophe event.

In a Saturday update, Andrew Siffert, reinsurance broker BMS Re’s Senior Meteorologist, has said that, based on the latest forecasts and with Beryl taking longer to regain hurricane status, after weakening to a tropical storm overnight, the insurance industry loss from the storm could be largely retained in the primary market, without too much reinsurance […]

Tropical Storm Risk (TSR) has again raised its forecast for activity levels during the 2024 Atlantic hurricane season, with an additional hurricane expected and a prediction that now four Category 1 or stronger storms will make landfall in the United States.

The CCRIF SPC (formerly known as the Caribbean Catastrophe Risk Insurance Facility) has seen its members renew their parametric insurance policies for the 2024/2025 policy year, with 10% more in parametric coverage purchased, while also making its first payout of 2024, $6.4 million for Guatemala after heavy rainfall.

An update from Swiss based catastrophe bond fund management specialist Plenum Investments confirms our earlier analysis, that the track and pressure data for major hurricane Beryl suggests the storm will not have breached the parametric trigger for the $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond.

Jamaica has been battered by the passage of major hurricane Beryl just off its southern coast. But, for holders of the World Bank facilitated $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction, early analysis of the real-time storm track suggests that noteholders will not face any loss of principal.

Overnight, the latest updates to the forecast path of major hurricane Beryl have kept Jamaica’s $150 million parametric IBRD CAR Jamaica 2024 catastrophe bond transaction on watch for its potential to be triggered. Cat bond market participants tell us it may be too late for any trading activity now, but at the same time we’re […]

Should major hurricane Beryl cause any catastrophe bond losses, it would be only a very minor hit to the entire cat bond market, with even a total loss to the Jamaica catastrophe bond would represent a hit to just 33bps of the outstanding market, investment manager Twelve Capital has said.