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From Precy Dumlao, Opalesque Asia:
London-based investment management firm Coriolis Capital Ltd., which focuses on insurance-related derivatives, including catastrophe bonds and options and weather derivatives, reported that all of its three funds posted positive gains in October; the quiet Atlantic Hurricane season contributed to the firm’s positive performance.
The Pacific region was relatively quiet this season as well. An important exception came in October, with Typhoon “Megi” reaching super-Typhoon status before making
landfall in the Philippines and Taiwan. The typhoon caused devastations in the two regions. However, Coriolis had no exposure to the Philippines’ typhoon risk.
Typhoon Megi, the strongest typhoon to be recorded in the world this year with gustiness up to 160 miles per hour, killed 36 people in the Philippines last month when it battered the northern main island with heavy rains and powerful winds. The extend of the devastations prompted the Red Cross and Red Crescent Societies to issue an appeal "to assist the Philippine Red Cross to provide relief and early recovery for 60,000 people across the five worst-hit provinces over the next 12 months."
After unleashing its wrath in the Philippines, Megi ...................... To view our full article Click here
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