Hurricane

It is currently expected to make landfall on the Gulf Coast of Louisiana in the early hours of Monday morning.

Platforms are the most at risk offshore energy asset, with 1,651 exposed to the current trajectory of Ida, while bulk carriers are the most exposed marine asset, with 100 currently exposed.

Its maximum sustained winds strengthened as it passed the Cayman Islands.

The tropical depression has strengthened as it passes over the Cayman Islands.

Most of the damage occurred in Mexico as the country weathered an estimated $300mn of losses.

The risk modeller said Henri’s weakening before landfall spared the northeast US from the damage originally forecast.

Hurricane Henri is seen as a minimal event historically as the world braces for peak hurricane season, which begins on September 10.

The storm is expected to be a “multi-million dollar” insurance industry loss event, rather than a billion-dollar event, according to BMS meteorologist Andrew Siffert.

With Grace expected to strike the eastern mainland of Mexico later today, Tropical Storm Henri is heading for the US north-east coast.

The hurricane made landfall near Tulum, registering a 986mb pressure reading.

It is expected to hit Mexico’s east coast early on Thursday morning before moving on to the southwest Gulf early on Friday.

While the total number of hurricanes has not changed significantly, the global proportion of major hurricanes has increased over the past 40 years.