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-0.0154178230033919 -0.0154178230033919 -0.0154178230033919 -0.0154178230033919 -0.0154178230033919 -0.00709219858156019 -0.00527289546716002 -0.00647548566142463
Stock impact report

Catastrophe-Bond Funds Suffered Virtually No Losses From Hurricane Milton [Yahoo! Finance]

SWISS RE LTD S/ADR (SSREY) 
Company Research Source: Yahoo! Finance
Most Read from Bloomberg Booming Cambridge Exposes England's Widening Wealth Gap Robotaxis Are No Friend of Public Transportation Oman Sees an Urban Future Distinct From Dubai and Abu Dhabi Climate Change Is Killing Buildings in Slow Motion Argentina Drug Trafficking Hotspot Sees Murders Plunge In fact, holders of the bonds may be looking at returns of as much as 12%, according to Zurich-based asset manager and catastrophe-bond specialist Plenum Investments AG. Before Milton struck just south of Tampa on Oct. 9 as a Category 3 hurricane, the market for catastrophe bonds had been bracing for losses as steep as 15%, dwarfing those triggered by Hurricane Ian two years earlier. In the event, losses from Milton will likely be closer to 1%, possibly even less. “The underlying dynamic means that spreads stay at high levels,” said Dirk Schmelzer, managing partner at Plenum, which oversees more than $1.2 billion in insurance-linked securities and insurance debt, including abou Show less Read more
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