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Hurricane

  • Average ILS returns reached 1.03 percent in September on the Eurekahedge ILS Advisers Index, in the strongest monthly performance in the past two years
  • Everest Re said it could bear a net fourth quarter loss of between $75mn and $200mn from Hurricane Matthew, based on a modelled industry loss of $3bn-$9bn, which it could absorb within quarterly earnings
  • Prospective returns on equity (RoEs) from US homeowners' insurance business have fallen in 2016 for the first time since 2011, according to Aon Benfield.
  • The official tally of Hurricane Matthew-related claims within Florida reached $549mn this week, with most of the total tied to residential property damage.
  • RMS has estimated US insured losses from Hurricane Matthew will fall between $1.5bn and $5bn, making it the costliest Atlantic hurricane for the (re)insurance industry since Sandy in 2012, but a far more modest hit than had initially been feared.
  • The Florida Hurricane Catastrophe Fund (FHCF) has said it expects only small charges resulting from hurricanes Matthew and Hermine
  • Barbados, Saint Lucia and St Vincent and the Grenadines have received payouts from the Caribbean Catastrophe Risk Insurance Facility (CCRIF) totalling $4.8mn for excess rainfall from Hurricane Matthew
  • Florida state authorities have recorded claims totalling $454mn from Hurricane Matthew, according to regulators.
  • Cat bond prices in secondary trading had recovered to pre-Hurricane Matthew levels by the end of last week (14 October), rising by 1.57 percent to 95.53 as the storm's impact proved to be less severe than anticipated.
  • The Florida Office of Insurance Regulation is keeping a running score of Hurricane Matthew claims reported by insurers within the state, with preliminary figures released earlier this week showing 39,302 claims that would produce insured losses of $218mn
  • Hurricane Nicole has strengthened into a Category 4 storm and is due to hit Bermuda on Thursday, the US National Hurricane Center said.
  • The Caribbean Catastrophe Risk Insurance Facility (CCRIF) will make $8mn in additional payments to Haiti, Barbados, Saint Lucia and St Vincent and the Grenadines after Hurricane Matthew triggered their excess rainfall policies