PCS raises Sandy estimate to $18.75B

This is a fairly important development, as Property Claim Services’ estimates drive recoveries in the cat bond market. Also important: The new estimate is about $7B higher than the old one, and it syncs better with estimates from the hurricane modelers.

As our friends at Artemis point out, a number of insurance-linked securities have triggers in the $20B to $25B range.

Artemis also has a thorough listing of Sandy losses by insurer, and the site points out that the sum of insurer reports is very close to the PCS estimate.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: