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Hurricane Andrew helped prove the accuracy of Karen Clark’s cat modelling

Meanwhile, Fidelis Insurance Bermuda has successfully closed a new catastrophe bond

Phoenix 2 Re was originally established in 2022

Swiss Re has forecast a further expansion of cat bonds in 2024

Report says Bermuda market companies remain well capitalised to absorb any unlikely and potentially significant losses

Industry overseers such as the BMA are told of their important role in supporting global communities

Estimated total global economic losses are elevated in 2023 to $290 billion in the first three quarters alone

The tropical storm made landfall on Antigua and Barbuda early October and passed near BVI causing heavy rains and flooding in both countries

Worrying research suggests more storms are reaching their maximum intensity near coastal areas

After a record-breaking first six months for the cat bond market, observations at present suggest a busy year-end in reinsurance

AM Best said the company’s balance sheet is strong, it has a neutral business profile and a very strong enterprise risk management

New directions for reinsurers and discussions on reinsurance pricing for the year ahead are key parts of the meetings this week at Rendezvous de Septembre