Hurricane

The 2020 bond provides $125mn of parametric, per occurrence coverage.

Investors will have to wait for official Verisk data before knowing if the bond will trigger.

The CCRIF has paid out $265mn since its inception in 2007.

The fund had taken major losses on cat-related investments, including through Southeast primary carriers Weston and Southern Fidelity.

These figures mark an improvement from August, which was impacted by losses from Hurricane Idalia.

The most important factors driving insured losses over the years include hurricanes, other weather-related events, inflation, and excess litigation.

Lidia has now largely dissipated after making landfall in Mexico.

The storm made landfall on Tuesday night in the Mexican state of Jalisco.

Additional strengthening is possible before Lidia makes landfall on Mexico’s West-Central Coast, according to the most recent update from the National Hurricane Center.

The fund is on course for its strongest year of returns since inception in 2014.

Experts at the Trading Risk New York conference emphasised in-built cyber risk protections from defences to exclusions, as ILS managers grapple with understanding the peril.

Losses from the Maui wildfire include a modest amount of reinsurance recoveries from the Per Risk reinsurance program, while losses from Hurricane Idalia were fully retained.