Hurricane

Hurricane Matthew is set to trigger the largest payout to date under the Caribbean Catastrophe Risk Insurance Facility (CCRIF), as the government of Haiti is expected to receive $20mn following the disaster.

The total value of residential exposures in the eastern counties of Florida threatened by hurricane Matthew represents almost a quarter of the state’s entire values at risk.

Standard & Poor’s said its ratings remained unchanged on 15 cat bonds worth $3.45bn which it monitors and which could take losses from Hurricane Matthew.

Hurricane Matthew has a 25.7 percent chance of causing $30bn of insured industry losses, according to very preliminary loss numbers produced by RMS for its clients and obtained by Trading Risk

Barbados is set to receive a $975,000 pay out under the Caribbean Catastrophe Risk Insurance Facility (CCRIF) tropical cyclone policy for losses caused by Hurricane Matthew.

Hurricane Matthew has prompted the most active livecat trading of industry loss warranties (ILWs) since Superstorm Sandy.

Category 4 Hurricane Matthew has continued its westward path overnight, with forecasters predicting a possible landfall in Florida from Thursday morning onwards

Aon Benfield's Impact Forecasting has said it remains too early to rule out possible impacts on Florida and the US East Coast as a result of Category 4-strength Hurricane Matthew

Modelling agency RMS estimated that Hurricane Hermine will cost the insurance industry less than $400mn.

The impact of Hurricane Hermine on reinsurers and cat bonds is likely to be limited, according to Fitch Ratings

Storm Hermine moved further offshore during the weekend than initially forecast, reducing the potential storm surge threat to the US northeast coast.

Cat bond yields continued to fall in late summer, as half of the hurricane season elapsed without a US storm threat.