After hurricane Ian, there is the potential for “significant” erosion to aggregate catastrophe bonds, according to investment manager Twelve Capital.
In its latest update on major hurricane Ian, Twelve Capital, the Zurich-headquartered insurance-linked securities (ILS) and reinsurance linked fund manager, said that it is now working off a range of industry loss estimates from $50 billion to as high as $70 billion, just for the Florida landfall losses from the storm.
“The full extent of the damage will only become clear over the coming weeks,” Twelve Capital explained.
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