6 April 2018News

Bermuda reinsurers face above average hurricane season in 2018

In a development that will be of concern to the Bermuda reinsurance market, 14 named storms are expected to form during the 2018 Atlantic hurricane season (June 1 to November 30), according to Colorado State University researchers.

Estimates suggest that 2018 will have a "slightly above-average" hurricane season, with seven of the 14 storms expected to become hurricanes - three of which reaching major hurricane strength (Saffir/Simpson category 3-4-5), with sustained winds of 111 miles per hour or greater.

The team predicts that 2018 hurricane activity will be about 135 percent of the average season. By comparison, 2017’s hurricane activity was about 245 percent of the average season. The 2017 season was most notable for hurricanes Harvey, Irma and Maria, which devastated the US and portions of the Caribbean.




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4 June 2018   Updated forecasts for the 2018 US hurricane season predict that the North Atlantic Basin will produce average hurricane frequency relative to long-term results, according to the latest US hurricane season special report from rating agency Fitch.
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11 October 2018   Losses from Hurricane Michael could be between $2 billion and $4.5 billion, according to CoreLogic estimates.
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16 October 2018   Estimates by catastrophe risk modelling firm AIR Worldwide Industry have put insured losses from Hurricane Michael at $6 billion to $10 billion.

More on this story

News
4 June 2018   Updated forecasts for the 2018 US hurricane season predict that the North Atlantic Basin will produce average hurricane frequency relative to long-term results, according to the latest US hurricane season special report from rating agency Fitch.
News
11 October 2018   Losses from Hurricane Michael could be between $2 billion and $4.5 billion, according to CoreLogic estimates.
News
16 October 2018   Estimates by catastrophe risk modelling firm AIR Worldwide Industry have put insured losses from Hurricane Michael at $6 billion to $10 billion.