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Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene. -
As a result of mostly flooding, £495mn ($644mn) of losses occurred in the UK.
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The ILS allocation increased in dollar terms and held steady in euros.
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Many in the ILS sector are bullish on Milton losses falling at the lower end of earnings impacts.
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The company said $13bn-$22bn will come from wind damage.
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Risk remote strategies, including private ILS, have outperformed higher risk strategies over the last decade.
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Florida domestics, aggregate retro and flood deals were all marked down.
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HCI is estimated to incur a net expense of $125mn for Milton in Q4 2024.
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The multiple offered on the deal is around 2.5x the expected loss.
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The bond triggers on a parametric, per occurrence basis, across Class A and Class B tranches.
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Most of the insured loss was attributable to wind.
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Icosa said certain cat bonds could see more than 0.2 points of price movement.
