Update 3 on Hurricane Dorian
Hurricane Dorian mostly followed the path projected by National Hurricane Center (NHC) at the time of our last update on September 2nd. According to our risk modelling, we do not expect losses in Entropics Cat Bond Fund. The devastating damages and human tragedies at Bahamas will affect the insurance and reinsurance markets. Through the Caribbean Catastrophe Risk Insurance Facility, CCRIF, Bahamas has been granted $11 million, half of which has already been paid and the rest expected to be paid within fourteen days. Hurricane Dorian is now a post-tropical cyclone and Entropics concludes the reporting on the hurricane.