Twelve Capital Event Update

6 November 2023

Hurricane situation

Since our last bi-weekly event update on 23 October, in the eastern Pacific we saw Hurricane Otis make record landfall as a category 5 storm in Mexico, causing widespread damage in Acapulco and surrounding areas.

In the Atlantic there have been no further named storms since our last event update. However, there was a low-pressure system in the Caribbean Sea, that crossed over Central America and was ultimately responsible for the development of Tropical Storm Pilar that is currently the only active storm in the eastern Pacific. Tropical Storm Pilar is currently forecasted to remain in the Pacific Ocean and weaken over the coming days.

Last week in Europe we saw storm Ciaran cause damage and disruption across southern parts of the U.K, the Channel Islands and northern France, as well as severe flooding in parts of Italy. On the Isle of Jersey, one of the most impacted areas, windspeeds of over 160 km/h were reported in addition to severe hailstorms. Storm Ciaran came only weeks after storm Babet which also affected the U.K and parts of northern Europe.

Twelve Capital continues to closely monitor any catastrophe events and will issue specific updates on any relevant new major events that occur.