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Hurricane Season 2017: Harvey, Irma and Maria

  • The 2017 hurricane season saw three major hurricanes hit the US
  • Hurricanes Harvey, Irma and Maria caused insured damage of $80bn to $100bn
  • The storms will have a major impact on industry trends in 2018
 

 

ID Comment: This year's hurricanes are changing the psychology of the market – not just rates

The perception of risk is changing and in the long term may be the most significant after-effect of the 2017 Atlantic hurricane season
North America United States Property

Hurricane Harvey: an unprecedented flood

  • Harvey made landfall in Texas in August 2017 as a category 4 hurricane
  • Record-breaking rainfall meant Harvey caused unprecented flooding
  • Insured loss estimates are estimated at $30bn but could still rise

 

Hurricane Irma: Florida's record-breaking storm

  • Hurricane Irma hit Florida in September 2017 and will potentially become the state's costliest storm
  • Claims have been reported across the state as a result of Irma, which is expected to cost insurers $30bn or more
  • Losses would likely have topped $100bn had Irma followed a track along Florida's Atlantic coast

 

Hurricane Maria: Devastation in Puerto Rico

  • Hurricane Maria hit Puerto Rico as a category 4 hurricane causing major devastation
  • A wide range of insured loss estimates are now converging around a $30bn damage bill 
  • Much of Puerto Rico remains without power months after the storm hit

 

Latest From Hurricane Season

Citizens expects just $142m in losses from Hurricane Michael

More than $3bn of claims have now been paid in Florida as a result of the storm
Hurricane Season Losses

Reinsurers shrug off cat damage but attritionals creep up

The continental leaders are having a profitable year despite the recent catastrophes
Asia Pacific Europe

Axis pegs Michael losses at up to $120m

Estimate based on $10bn insured loss
Axis Capital Hurricane Season

Axa to take €300M Q3 cat hit through XL

Carrier estimates Hurricane Michael will cost it a further €200m

Axa XL Group

Hurricane Michael losses edge towards $10bn

Senior industry figures believe Michael is expected to reach the top end of latest modelled loss estimates

North America United States

Willa makes landfall in Mexico as Category 3 hurricane

Rainfall of up to 18 inches is expected 
Losses Hurricane Season
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