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20 April 2018

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PCS puts Riley losses at $1.36bn

Sofia Geraghty 27 March 2018

PCS has released an initial loss figure for Winter Storm Riley of $1.36bn, sister publication Trading Risk has reported.

Riley hit the US east coast at the beginning of March, bringing snow, rain and flooding to Boston.

The PCS number was released towards the end of last week, according to sources,

The winter storm has already caused losses in the cat bond market.

Last week Trading Risk reported that several low-lying aggregate tranches of Residential Re cat bonds are expected...

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