Twelve Capital Event Update – 1 July 2019

Summary

No new natural catastrophe events took place over the last two weeks that would be expected to cause major insured industry losses.

Other recent events

The following noteworthy natural events recently occurred during late June although, at present, these events are not expected to have a significant impact on Twelve Capital’s portfolios, or insured loss estimates have not yet been issued.

US storms

Thunderstorms hit the US between 21 and 27 June, including strong winds, from Kansas to Georgia. There were also hailstorms, wind and tornado damage in the Rockies, Plains, Midwest and the Southeast. Total combined economic and insured losses for several of these events is expected to be in the hundreds of millions in USD (Source: AON).

European heatwave and thunderstorm damage

A heatwave hit a large area of Europe and was particularly evident in France where temperatures reached 45°C, breaking historical records for June. Thunderstorms caused damage including flash flooding in Switzerland and Normandy – for these events, economic losses might be over USD 150 million (Source: AON).

Monday, 1 July 2019