reinsurance

Overnight, hurricane Milton’s intensity peaked at sustained winds of 180 mph with a central pressure of 897 mb before an eyewall replacement cycle began. While the storm has weakened somewhat to a Category 4 with 155 mph winds now, the threat to Florida should not be understated and storm surge height indications for Tampa Bay […]

Insurance industry losses from major hurricane Milton’s eventual impacts in Florida could amount to tens of billions of dollars, but there is high uncertainty still as the eventual landfall location and intensity will greatly influence the eventual cost for the industry, according to Andrew Siffert, Senior Meteorologist at BMS Group.

Hurricane Milton is now a Category 4 storm with sustained winds of 155 mph at the latest NHC update. With the central pressure now estimated at 933 mb and a track that will see Milton getting very close to the northern Yucatan peninsula, it has brought the Class C notes of the IBRD CAR Mexico […]

If now major hurricane Milton results in “material” losses for reinsurance capital providers, analysts at KBW have said that this could change the expected trajectory of property catastrophe reinsurance pricing at renewals in 2025.

Hurricane Milton has strengthened into a 100 mph storm and is expected to become a major hurricane later today. The NHC has now begun including storm surge height indications in its updates on Milton and from-the-off they call for between 8 and 12 feet of storm surge to impact Tampa Bay.

As hurricane Milton heads towards Florida, the developing storm situation poses the biggest potential threat to the insurance-linked securities (ILS) market since hurricane Ian in 2022, according to Florian Steiger, the CEO of catastrophe bond investment manager Icosa Investments AG.

CoreLogic has now updated its insurance market loss estimate for hurricane Helene to include losses to the National Flood Insurance Program (NFIP), now putting the total in a range from $10.5 billion to as much as $17.5 billion.

Here are the ten most popular news articles, week ending October 6th 2024, covering catastrophe bonds, ILS, reinsurance capital and related risk transfer topics. To ensure you never miss a thing subscribe to the weekly Artemis email newsletter updates or get our email alerts for every article we publish.

The Gulf Coast of Florida is facing another hurricane landfall, as tropical storm Milton formed this weekend and has already become a hurricane, with additional rapid intensification forecast and a major hurricane Milton landfall possible that many say has the potential to cause meaningful insurance and reinsurance market losses.

While the majority of industry losses from hurricane Helene are expected to fall below primary insurers reinsurance attachment points, any that do flow to reinsurers should be able to be absorbed within earnings thanks to the structural changes of the reinsurance reset, S&P Global Ratings has said.