japan typhoon

Typhoon Jebi sees Japan facing another typhoon landfall in the next roughly 30 hours, as the storm tracks rapidly towards western Japan with sustained winds of 115 mph and gusts of 144 mph and higher.

Japan is currently expecting a landfalling category 1 typhoon Cimaron to come ashore in eastern Shikoku over the next few hours, bringing sustained winds of just over 90 mph, higher gusts and an expectation of torrential rainfall and a flood threat along the storm’s path.

Risk  modelling company AIR Worldwide has announced the launch of an inland flood risk model for Japan, as well as updates to its Japan typhoon risk model, both of which will be useful to reinsurance and ILS funds as they look to the country to underwrite diversifying perils.

The Aozora Re Ltd. (Series 2017-1) catastrophe bond issuance, sponsored by Sompo Japan Nipponkoa (SJNK), has increased in size again with the target raised to $480 million and at the same time the pricing lowered to the bottom of already reduced guidance.

Sompo Japan Nipponkoa’s (SJNK) latest catastrophe bond issuance, the Japan typhoon exposed Aozora Re Ltd. (Series 2017-1), has increased in size while marketing by 48%, to now offer ILS investors a $400 million tranche of cat bond notes we’re told.

Japanese primary insurance giant Sompo Japan Nipponkoa Insurance is returning to the capital markets to sponsor a $270 million Aozora Re Ltd. (Series 2017-1) catastrophe bond, to secure additional collateralized reinsurance protection for Japanese typhoon risks.

Japanese primary insurance group Sompo Japan and Nipponkoa’s (SJNK) new Aozora Re Ltd. (Series 2016-1) catastrophe bond has now priced at the lowest-end of the initial guidance and achieving the upsized $220m of reinsurance protection for the firm.

The latest catastrophe bond to be sponsored by Sompo Japan and Nipponkoa Insurance Company, the Aozora Re Ltd. (Series 2016-1) Japan typhoon cat bond, is set to upsize by 25% to $220 million, while at the same time demand from investors has seen the price guidance reduced.

Japanese primary insurance group Sompo Japan Nipponkoa Insurance is returning to the capital market in search of an expanded source of reinsurance protection for losses caused by Japan typhoons with a $175m Aozora Re Ltd. (Series 2016-1) catastrophe bond.

Typhoon Nangka continues on its forecast path towards Japan’s southern coastline, with the now weakening storm still threatening damaging winds, torrential rainfall and a storm surge which could inundate some coastal areas.