Hurricane

AIR Worldwide has slashed its range of loss estimates for Hurricane Maria to $27bn-$48bn, down from an initial $40bn-$85bn range.

The Federal Emergency Management Agency (Fema) has announced it would submit a claim to recover the whole of the $1.042bn of reinsurance coverage for the National Flood Insurance Program, following losses from Hurricane Harvey alone.

USAA has extended the risk period for its Residential Re 2013-2 class 1 notes that were due to mature on 6 December, as it held back half of the bond's $80mn principal pending a potential wildfire claim

The ILS market has not yet fully replaced the capital lost or trapped as a result of this year's hurricane events, Horseshoe Group CEO Andre Perez said during an ILS Bermuda event held in London today.

Data provider PCS has kept its insured industry loss figure for Hurricane Harvey largely stable at $15.9bn following its second survey of claims from the August storm, sources said.

Insured losses from Hurricane Irma drew near $6bn in Florida last week as more than a quarter of claims received have been closed without payment, the state's insurance regulator has reported.

Blue Capital recorded an 0.39 percent drop in net asset value (NAV) for its London-listed Alternative Income Fund in October, as it recorded losses from the recent California wildfires.

The Bermuda Monetary Authority (BMA) has estimated that (re)insurers on the island have incurred net losses of $31.2bn for hurricanes Harvey, Irma and Maria (HIM).

Cat risk modelling group RMS reiterated its forecast loss range for Hurricane Maria of $15bn to $30bn and has suggested insured losses from the storm could be lower than some observers had feared

MS Amlin took incurred losses of £398mn associated with hurricanes Harvey, Irma and Maria and the Mexican earthquakes, its parent MS&AD said.

PartnerRe posted a $396.8mn increase in non-life reinsurance recoverables during the third quarter, as it took $472mn of net losses from hurricanes Harvey, Irma and Maria (HIM).

The National Flood Insurance programme (NFIP) has started the process of renewing its reinsurance programme for 2018 as it issued a renewal tender for bids for cover.