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Melbourne Thunderstorm

06 March 2010

On Saturday, 6 March, a super cell thunderstorm brought hailstones, strong winds and flash flooding to Melbourne, Australia, severely damaging properties and cars, causing power outages and forcing the cancellation of sporting events in the city. In what is being described as the “storm of the century” the city received up to 3 inches of rain in approximately 30 minutes, accompanied by winds of up to 62 mph (100 km/hr). According to the Australian Bureau of Meteorology, hailstones were reported at 2 inches (50 mm) in diameter. The entire metropolitan area...


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Poll

Catastrophe bond issuance was $4.3bn in 2011. How much new issuance will there be in 2012?

Less than $3bn
0%
$3bn-$4bn
43%
$4bn-$5bn
29%
$5bn-$6bn
14%
$6bn-$7bn
14%
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0%

Quote

If last year was the year of the cat, then this year could be the year of the debt crisis.

Mike Van Slooten, head of international market analysis at Aon Benfield