Tropical Storm Risk (TSR) has upgraded its expectations for the forthcoming US hurricane season and is now forecasting activity will be roughly in line with both the 2007-2016 norm and the long-term average.
The Rocky Mountain Insurance Information Association has estimated insured losses from the hailstorm that hit Colorado's Front Range region on 8 May at $1.4bn, making it the state's costliest catastrophe to date.
UPC Insurance incurred almost $20mn of catastrophe losses for the first four months of the year to put it $10mn shy of triggering its aggregate and quota share reinsurance covers, sister publication Trading Risk reported last week
Attractive prices drew sponsors to the cat bond market in the first three months of 2017, resulting in a record volume of insurance-linked securities (ILS) issuance for an opening quarter.
