Two FloodSmart Re cat bonds see partial repayments, extend for 1-year on NFIP Helene loss uncertainty – Go Health Pro

Two FloodSmart Re cat bonds see partial repayments, extend for 1-year on NFIP Helene loss uncertainty – Go Health Pro

Having increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, we’re told that FEMA has gone ahead with the partial repayment of principal and also extended the maturity dates for two of its FloodSmart Re catastrophe bond tranches.The U.S. Federal Emergency Management Agency (FEMA) had put an initial estimate for NFIP … Read more

NFIP’s Helene loss estimate rises to $6.75bn. Two cat bonds extended with partial repayment – Go Health Pro

Two FloodSmart Re cat bonds see partial repayments, extend for 1-year on NFIP Helene loss uncertainty – Go Health Pro

Artemis has learned that FEMA has increased its estimate for National Flood Insurance Program (NFIP) losses from hurricane Helene, raising the figure to $6.75 billion and as a result two FloodSmart Re catastrophe bond tranches have had their maturity dates extended, with partial repayments of principal to be made.The U.S. Federal Emergency Management Agency’s (FEMA) … Read more

Berkshire Hathaway pegs hurricane Milton loss at $1.3bn-$1.5bn, Helene at $565m – Go Health Pro

Berkshire Hathaway pegs hurricane Milton loss at .3bn-.5bn, Helene at 5m – Go Health Pro

The insurance and reinsurance businesses of Warren Buffett’s Berkshire Hathaway suffered from hurricane losses in the third-quarter with Helene and are expecting up to $1.5 billion of additional losses from hurricane Milton in the fourth-quarter.Reporting its third-quarter 2024 results today, Berkshire Hathaway revealed a steep decrease in insurance underwriting income to $750 million for the … Read more

FHCF losses for Helene & Milton seen $1.6bn – $6.2bn, point estimate of $4.6bn – Go Health Pro

FHCF losses for Helene & Milton seen .6bn – .2bn, point estimate of .6bn – Go Health Pro

According to the administrators of the Florida Hurricane Catastrophe Fund (FHCF), losses to the fund that provides a reinsurance-like reimbursement for a portion of residential property insurers’ hurricane losses from recent hurricanes Helene and Milton are expected to fall between $1.6 billion and as much as $6.2 billion.Paragon Strategic Solutions, the FHCF’s consulting actuary, puts … Read more

Re/insurance well-positioned to absorb $34bn – $50bn Helene and Milton losses: Aon – Go Health Pro

Re/insurance well-positioned to absorb bn – bn Helene and Milton losses: Aon – Go Health Pro

According to Aon’s Reinsurance Solutions division, combined industry losses from hurricanes Helene and Milton are expected to fall within a range of $34 billion to $50 billion, at which level insurance and reinsurance sector capital is well-positioned to absorb them and the events underscored the value of integrating innovative solutions such as parametrics.“The short-term prospect … Read more

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