Hurricane Ian: Bearishness builds

Insurance Insider team

29 September 2022

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Pembroke Pines, FL, USA. 28th Sep, 2022. A general view of the aftermath as Small aircraft are seen flipped up side down after a reported tornado touches down at North Perry Airport as Hurricane Ian approaches on September 28, 2022 in Pembroke Pines Flori — Photo: Alamy

The industry’s collective sense of relief early yesterday as it became clear that Ian’s track was well south of Tampa Bay is increasingly looking overdone, as the late pick-up in wind speeds to almost Category 5 levels threatens to escalate losses.

Earlier yesterday sources were marking the likely quantum of the loss down, as they gave credit for the lower insured values south of Sarasota, and there was significant discussion of an event in a $20bn-$30bn range.

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Hurricane Ian: Bearishness builds

The industry’s collective sense of relief early yesterday as it became clear that Ian’s track was well south of Tampa Bay is increasingly looking overdone, as the late pick-up in wind speeds to almost Category 5 levels threatens to escalate losses.

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Hurricane Ian: Bearishness builds

The industry’s collective sense of relief early yesterday as it became clear that Ian’s track was well south of Tampa Bay is increasingly looking overdone, as the late pick-up in wind speeds to almost Category 5 levels threatens to escalate losses.

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Uncover exclusive insights tailored for insurance leaders

Topics

Behind the Headlines: Israel escalation and Convex's Paul Brand on building and running a $4bn (re)insurer

Marsh McLennan launches global alternative risk solutions practice

Rates a ‘non-factor’ in WTW risk and broking growth: Hess

Aspen shelves IPO amidst deteriorating market sentiment

Mapfre Q1 net profit jumps 70% to EUR215mn

WTW posts 5% Q1 organic growth with 8% in risk and broking

Former Aon COO Platt joins Cytora global advisory board