Update on Typhoon Trami
In the coming weekend, Typhoon Trami is expected to make landfall in mainland Japan. The typhoon, currently a Category 2 storm, is expected to regain strength and could make landfall as a strong Category 2 or a Category 3 storm bringing storm surges and torrential rain in addition to hard winds. Currently, the cat bond market prices do not indicate a reaction to the event.
Typhoon Trami is the latest in a series of severe weather events affecting Japan. The events have accumulated losses for insurers and some reinsurers, increasing the risk of reinsurance market impact.
Entropics continues to monitor the events and will published updates if appropriate as the situation develops and additional modelling data is made available.