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Last week, TSR updated its forecast and is now predicting above-average storm activity. -
Most of the losses are attributable to a supercell storm in Texas.
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The company also has $100mn for US hurricane events.
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The Floridian also secured $352mn of multi-year coverage extending to 2027.
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Florida’s top regulator says he’s eyeing eventual tweaks to the state’s cat fund, too.
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The deals covered Euro wind and Italy quake, Florida hurricane and a retro bond.
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Almost 50,000 people have been forced to evacuate.
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TSR previously predicted activity slightly below the 1995-2024 average.
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SCS can no longer be considered a "secondary" peril for the US insurance market, Steve Bowen said.
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The agency forecasts up to five major hurricanes and 19 named storms.
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Two large storms hit the Midwest and Ohio Valley regions on 14-17 May and 18-20 May.
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Tornadoes have killed at least 32 people in three states.
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