-
RMS will issue its final loss estimates for Milton later this week. -
Plenum said wind damage from Milton could lead to “moderate” losses for its cat-bond funds.
-
The company is monitoring the NFIP’s flood-exposed bonds.
-
This is a far narrower drop than post Ian, when the index was lost 10%.
-
A client presentation from the broker put total insured losses at $25bn-$40bn, leaving the Citizens and the National Flood Insurance Programs clear of reinsurance impacts.
-
Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
-
Losses to the NFIP-sponsored cat bonds remains a key area of uncertainty, the investment manager reported.
-
On Wednesday, the model had suggested a mean figure at $25.3bn.
-
The hurricane is likely to prevent rate reductions in property cat in 2025.
-
The event has spared (re)insurers the more extreme scenarios that were under discussion earlier this week.
-
Roman Romeo was named CEO of Reinsurance Solutions in Bermuda in April this year.
-
This is based on insured loss estimates of between $20bn and $60bn.
