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70% chance of below normal hurricane season in 2015: NOAA

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The U.S. NOAA’s Climate Prediction Center released its official May forecast for the2015 Atlantic tropical storm & hurricane season today, predicting a 70% chance of a below normal season and citing the potential for El Niño to suppress activity this year.

For the 2015 hurricane season NOAA forecasts a 70% likelihood that there will be between 6 and 11 named tropical storms with wind speeds of 39 mph or higher. Between 3 and 6 of these storms could develop into hurricanes, with winds of 74 mph or higher, while between 0 and 2 could become major hurricanes of Category 3, 4 or 5 with winds of 111 mph or higher.

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Diversification still attracts investors to reinsurance & ILS: Towers Watson

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Despite rates in the global reinsurance market falling over the last couple of years, investors continue to show increased interest in reinsurance and insurance-linked securities (ILS) as a diversifying asset class, according to Towers Watson.

In a recent publication, titled “Reinsurance – Down, but not out,” Towers Watson discusses the diversification benefits reinsurance and ILS as an asset class can bring to a portfolio, while noting some industry caution to investors.