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Tornado strikes continue, likely impacting aggregate losses for cat bonds

The U.S. continues to be affected by severe thunderstorms and devastating tornadoes, the latest of which impacted the city of Joplin, Missouri yesterday. The BBC report that the city suffered a direct hit from a tornado leaving a trail of destruction and 30 people dead (Update: CNN now report at read the full article →

Insured loss estimates from late-April tornadoes now up to $6 billion

Estimates for damage caused by the severe thunderstorms and tornadoes at the end of April have been rising in recent days. The highest insured loss estimate we had heard was the one from AIR Worldwide who put losses at up to $5.5 billion for weather conditions between the 22nd - read the full article →

Mariah Re Ltd. catastrophe bond rating could be affected by recent tornadoes

We were incorrect in our assessment earlier that the Mariah Re Ltd. catastrophe bond, which is exposed solely to severe thunderstorm risks (including tornado), was unlikely to be affected by the recent spell of severe convective weather in the U.S. It transpires that due to exposure in the state of read the full article →