The Northwest Pacific typhoon season, which is one of the peak zone perils for reinsurance, catastrophe bond and other insurance-linked securities (ILS), is forecast to see activity levels roughly 20% below-normal, as the effects of La Niña are increasingly expected to last through summer and into Autumn.
Tropical Storm Risks (TSR), an insurance and reinsurance industry supported team of forecasters, believe the Northwest Pacific typhoon season will see 23 tropical storms, 13 typhoons and 7 intense typhoons during 2022.
This sounds like a high number, especially if you’re more used to tracking the Atlantic hurricane season where such a year may be considered hyperactive, like a few recent seasons, but it’s actually below the norm by as much as 20%.
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