10 October 2024
Tanja Wrosch of Twelve Capital, discusses the impact of Hurricane Milton on insurers and the potential losses for catastrophe-bond investors. "It's up to 15%, that's what we thought earlier. Cautiously, we would say it's likely, likely less," Wrosch told Bloomberg Television. "It played out in the end a bit better."
Twelve Capital has a $5 billion portfolio, including $3.8 billion of catastrophe bonds. The Swiss asset manager said previously that insured losses from Milton could be anywhere from $40 billion to $150 billion, with corresponding cat-bond market losses of 2% to 15%.