Twelve Capital Event Update – 9 August 2021

Hurricane situation

Currently, there are no active storms in the Atlantic, but there are two disturbances that may develop into storms over the coming days. Both are located in the Western Atlantic, circa 630 kilometers south-east of the Leeward Islands. One has a 50% chance of forming into a storm within the next 48 hours, while the other is assessed as having a 20% chance of storm formation within the next 24 hours.

Other events

There are wildfires impacting south-east Europe, particularly in the Balkans, Italy, and part of the Mediterranean. The European wildfire season is only halfway through, and already there have been a record breaking number of fires and subsequent damage. With a number of further heat waves predicted, this situation is likely to continue over the coming weeks and months.

The wildfire situation is not expected to have any impact on the Twelve Capital Cat Bond positions, as these do not cover European wildfires.

Having moved into the peak of hurricane season, Twelve Capital will now provide weekly event updates until October. Twelve Capital continues to closely monitor any catastrophe events and will issue specific updates on any relevant new major events that occur.