Where the wind blows: Anna Pergerson & David Unsworth give Hurricane Helene and Milton’s loss update in The Insurer
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Hurricanes Helene and Milton struck within days of each other in 2024, delivering tens of billions in insured losses but leaving the reinsurance market intact.
“These storms validated the structural improvements in the market we have seen in recent years. In a different environment, the outcome could have been far more severe,” said Anna Pergerson, Managing Director and Head of Catastrophe R&D at Howden Re.
In “Where the Wind Blows” from The Insurer, Anna Pergerson and David Unsworth, Managing Director and Southeast Segment Lead, North American Reinsurance, explain how Hurricane Helene caused $10.5–17.5bn in flood and surge losses, while Hurricane Milton, driven mainly by wind, generated $20–50bn in insured losses.
Despite their impact, the storms arrived at a time of stronger retentions, disciplined underwriting, and improving fundamentals, helping the market avoid systemic stress.
For Howden Re, the takeaway is clear: even in quieter seasons, volatility remains. Preparedness and creativity will define the next phase of resilience for catastrophe-exposed markets.