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Twelve Capital: Limited impact from Hawaii fires & typhoon Lan, but aggregates watched

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Twelve Capital, the Zurich-headquartered insurance-linked securities (ILS), catastrophe bond and reinsurance investment manager, has said that it expects no direct losses from the wildfires in Hawaii, while typhoon Lan’s passage through Japan is not expected to cause much of an impact to its portfolios.

Twelve Capital warns against aggregate erosion, which is the risk of retention buffers depleting further in contracts for catastrophe bonds, reinsurance and retrocession that aggregate multiple losses.

Yesterday, Typhoon Lan hit Wakayama Prefecture in Japan as a Category 1, with winds up to 80mph.

Twelve Capital said that after typhoon Lan weakened in its approach to Japan it was expected to bring strong winds and heavy rain to the region. There is a possibility there could be effects in Osaka and Kyoto.

As typhoon Lan crosses the country, it is predicted that some areas will receive rain of up to 10 inches.

At the time of its update, Twelve Capital noted that there was still “a high level of uncertainty regarding the location and strength of the typhoon.”

It’s understood that…



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