Hurricane Beryl

Hurricane Beryl, the first hurricane of the 2024 Atlantic season, has made landfall in the Caribbean, impacting the island of Carriacou to date. Beryl rapidly developed from a tropical storm to a category 5 hurricane, marking the earliest point in the season to record a category 5 storm in history. The current trajectory suggests that Beryl will move towards Jamaica and the Cayman Islands and then gradually reduce in strength.

Alpha comment

Beryl is the first major Atlantic windstorm of 2024 and a very powerful hurricane, particularly at this early stage of the hurricane season. Beryl’s path so far, however, has missed key Caribbean settlements and instead devastated less populated islands. Although the storm is still ongoing, early indications are that insured losses will be very manageable and likely to be less than $1bn, according to the broking house BMS. We will continue to monitor the storm’s track as it develops.