Hurricane

No hurricane options in 2014; Life expectancy changes to drive pension de-risking

The primary US insurance market could open up greater potential volumes of business to the growing ILS sector but there are several challenges ahead for funds trying to access this market.

The Caribbean catastrophe insurance pool (CCRIF) will pay nearly $500,000 to the Government of Anguilla after its excess rainfall insurance policy triggered as a result of Hurricane Gonzalo.

Damage to Bermuda as a result of Hurricane Gonzalo may cost insurers $200mn to $400mn, modelling firm AIR Worldwide estimated.

The Swiss Re Cat Bond Price Return index gained 0.6 percent in September despite a slight downward blip after Hurricane Odile - which may trigger a $50mn payout from the MultiCat Mexico bond

Standard & Poor's (S&P) has placed the Class C notes of MultiCat Mexico 2012 on creditwatch negative as the market awaits AIR Worldwide's verdict on whether Hurricane Odile was a triggering event

Hurricane Odile has made landfall on Mexico's Baja California peninsula, threatening a partial payout from the $100mn Class C tranche of the MultiCat Mexico 2012 cat bond

A handful of reinsurer sidecars accrued average returns of 3.8 percent during the first four months of 2014, according to the latest results from mutual fund manager Stone Ridge

Half the Caribbean Catastrophe Risk Insurance Facility (CCRIF) members have bought parametric excess rainfall coverage alongside tropical cyclone and quake insurance for the first time.

Aspen may begin lowering its net appetite for property cat risk if pricing slides further after the US hurricane season, CEO Chris O'Kane said on a second quarter earnings call.

Hurricane Arthur has not been designated as a catastrophe by PCS after the storm made landfall in North Carolina on 3 July

Modelling firm RMS estimated that Hurricane Arthur, which hit North Carolina on 3 July, could lead to insured losses of not above $250mn