The companies with the five largest homeowners exposures to these events, as measured by statutory direct written premium include
In commercial lines, when combining the statutory direct written premiums for inland marine, commercial multiperil (nonliability) and allied lines, the companies with the largest market share in
While there are numerous outstanding catastrophe bonds that include
Two separate storms have approached the Hawaiian Islands in recent days and are expected to bring considerable rainfall and wind to the island chain. However, material insured losses are not expected to result from the storms given their current paths.
Hurricane Iselle reached as high as a Category 4 hurricane, meaning it sustained wind speeds of over 130 mph, before being downgraded to a Category 1 hurricane and ultimately a tropical storm as it approached the Hawaiian Islands.
Hurricane Julio followed Iselle by several hundred miles and is expected to take a more northern path around the islands than its predecessor and bring additional rainfall to the islands, but avoid a significant landfall event. In the event of a more southern trajectory for Julio, the potential for insured losses would increase, but would likely remain manageable for the (re)insurance industry.
Major hurricane events in
The last hurricane event to significantly affect
The above article originally appeared as a post on the Fitch Wire credit market commentary page. The original article can be accessed at www.fitchratings.com. All opinions expressed are those of Fitch Ratings.
Source: Fitch Ratings
Most Popular Stories
- Tablets, Cars Drive AT&T Gains
- 2015 Mazda MX-5 Miata Is Fast and Eager
- Small Businesses Add 3 More Worries to Their List
- DOMA Tech Adding Jobs to Process VA Claims
- Apple Warns of China iCloud Attack
- Tech Firms Flock to LA's 'Silicon Beach'
- Job Hunting Is Hard Work
- Stocks Subdued After Gains Earlier in Week
- Ford, GM Expect to Report Strong Profits
- IS Funded by Black Market Oil Sales, Racketeering