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A US landfall is not expected, but the storm could hit the Bahamas by Friday. -
The storm could bring flooding to Jamaica, Cuba and Haiti.
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Nine-month insured losses still exceeded $100bn due to California wildfires.
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The reinsurer stressed it “did not shy” from cat business in 2023.
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Though wildfire losses are up, total losses are the lowest since 2015.
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The governor has yet to sign a pending bill to create a public cat model.
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The insurer of last resort currently has $2.15bn of cat bond protection on risk.
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Jonathan Rinderknecht was arrested Tuesday on destruction of property charges.
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Declared events totalling just under A$2bn ($1.3bn) included one cyclone and two floods.
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Despite a rocky H1, 2025 insured losses from nat cat events may not surpass 2024 levels.
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The ratings agency cited a reduction in exposure to nat cat risk as a reason for the change.
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Winds have strengthened to 80 mph, and the hurricane is expected to intensify further over the next 48 hours.
