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.
