S&P Global Ratings estimated that 13 cat bonds may be at risk from the threat posed by Hurricane Irma, based on its ratings data - which covers only a very limited scope of the cat bond market outstanding.
Hurricane Irma is heading for the Florida peninsula almost a century after the 1926 Great Miami hurricane, which would have been the most damaging storm on record had it occurred today
Reinsurers will pick up the brunt of any Florida hit from Hurricane Irma, a powerful category 5 hurricane currently approaching Caribbean islands, including the Virgin Islands and Puerto Rico.
