Hurricane
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The numbers will be refined further to arrive at an industry loss estimate. -
The storm made landfall as a major hurricane in Florida’s Big Bend region.
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The ratings agency expects insured losses of around $5bn for Helene.
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Tallahassee avoided a major hit – but flood and storm-surge losses remain unknown.
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The NFIP has a higher take-up rate in Tampa Bay, which experienced record coastal storm surge.
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Helene is expected to become a post-tropical low later today.
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Additional strengthening is expected before Helene makes landfall in Florida tonight.
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Only three storms have impacted a larger area than Helene since 1998.
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TSR predicts Atlanta, Georgia, could face Cat 1 windspeeds as the storm moves further inland.
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The storm is expected to make landfall in Florida’s Big Bend coast on Thursday evening.
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Helene is currently a Category 1, but rapid strengthening is anticipated over the next day.
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The ILS manager expects “minimal, if any, losses” to bonds in its funds.
