Hurricane
-
The ILS manager sees Florida primary and retro business producing more return than reinsurance. -
Weather activity and adverse claims trends in Florida have impacted underwriting results, the ratings agency said.
-
Aon’s Impact Forecasting put total insured losses across various events including Hurricane Eta at $1.2bn or more.
-
The state-backed carrier escaped lightly from hurricane losses but 500 Eta claims await payment.
-
Both storms had landed in the country as category 4 storms within a two-week period.
-
Pessimism around trapped capital is growing, but low reported losses may mitigate the issue.
-
The carrier’s annual catastrophe losses ticked up to $2.9bn in October.
-
This third payment will be the largest yet received by Central American country.
-
The storm, which made landfall with wind speeds of 155 mph, is expected to weaken by Wednesday.
-
The storm becomes the 30th tropical cyclone to form in this year's Atlantic hurricane season.
-
Its present track would see Iota become the third tropical storm to land in Nicaragua this month.
-
A paper in the journal Nature argues that climate change is fuelling the problem.
