Wildfire
-
The Swedish insurers’ association Svensk Forsakring has estimated the fires that swept through Swedish forests from May to July will lead to insured losses of SEK800mn ($87mn).
-
The latest version includes data from the 2017 Tubbs, Atlas and Thomas fires in California.
-
July catastrophe losses have been dominated by Californian wildfires.
-
Pricing for the Cal Phoenix Re cat bond has settled 20 percent above the initial guidance at 750 basis points.
-
The ratings agency says insurers may need to pursue loss-reduction strategies, with 2018 possibly on track to produce more claims than 2017. -
The Mendocino wildfire, which is currently tearing across North California, nearly doubled in size over the weekend to become the fourth largest in state history.
-
As of yesterday evening, the fire in Northern California was only 37 percent contained.
-
The Carr fire is 30 percent contained but it continues to rage across 112,888 acres.
-
The blaze in Northern California covering 103,772 acres has destroyed 818 residential and three commercial structures so far.
-
The target spread on the first wildfire cat bond has risen from an initial guidance of 600-650 basis points (bps) to 750 bps.
-
The California Department of Forestry and Fire Protection said as of yesterday the blaze was only 17 percent contained.
-
The energy provider is hoping to raise $200mn for the Cal Phoenix Re 2018-1 cat bond which will solely cover wildfire losses.
