Trami made landfall in Wakayama, Japan on 30 September as a category 3 storm. It moved rapidly over the main island causing very high winds and rainfall before passing back to the Pacific. It is too soon to estimate any potential industry losses.
Assessment of insured losses is still ongoing. Estimates remain wide-ranging, demonstrating the uncertainty around quantifying the insured losses relating to Hurricane Florence. RMS estimates industry-insured losses from wind, surge and inland flood (including NFIP) to be USD 2.8-5bn.
Twelve Capital is closely monitoring the above situation and will issue more detailed updates should this event prove material, particularly regarding any potential impact on our portfolios.
At the time of writing, the following natural events are ongoing or have recently occurred. At present, these events are not expected to have an impact on Twelve’s portfolios.
Indonesia Earthquake and Tsunami
A powerful magnitude 7.5 earthquake at a shallow depth of 10km struck Central Sulawesi, Indonesia. The regional capital city of Palu was devastated by a tsunami of up to 6 meters, sadly killing several hundred people.
Tropical Storm Rosa
Currently located off the coast of Baja California, Mexico as a Tropical Storm. It is forecast to make landfall, weaken and track inland to Arizona, USA.
Tropical Storm Kirk
Impacted the Lesser Antilles, Caribbean on Friday, 28 September as a tropical storm.
This category 2 storm is currently located in the Pacific and is tracking towards the Japanese Ryukyu islands.