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The Floridian anticipates Hurricanes Debby and Helene to incur losses of $3.8mn in Q3 2024. -
The policies assumed represent $200mn of in-force premium.
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The sovereign wealth fund’s ILS investments grew to $828mn.
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The firm still expects to deliver positive net income for Q3 2024.
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Assuming Munich Re takes roughly a 3% market share of hurricane losses suggests a ~$20bn industry loss for Helene.
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Cat bonds, private ILS and retro were all kept at “strongly overweight”.
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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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Managers expect Hurricane Milton losses to shore up pricing.
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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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Post-Milton investor interest in ILS has yet to translate into dollars allocated.
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The company said $13bn-$22bn will come from wind damage.
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