Twelve Capital Event Update

Hurricane situation

There is currently a depression forming in the middle of the Caribbean Sea that has a high probability of turning into a tropical storm within the next few days. Its current path is projected to take it west into Belize as a Category 1 storm, before weakening and continuing out into the Pacific.

On 22 October Hurricane Roslyn impacted Nayarit, Mexico as a Category 4 storm. This was a storm that had rapid intensification, going from a Category 1 storm to a Category 4 in just over a day. There are two IRBD catastrophe bonds with parametric triggers based on central pressure of a storm impacting the coast of Mexico. While the lowest pressure of this storm was ca. 950mb, it made landfall on the western side of Mexico where the trigger point starts at 935mb so Twelve Capital does not expect a loss from this event.

Twelve Capital continues to closely monitor any catastrophe events and will issue specific updates on any relevant new major events that occur.