Latest news with #HurricaneOtis
CNN
15 hours ago
- Climate
- CNN
Erick strengthens into a Category 3 major hurricane approaching Mexico's coast
Hurricane Erick powered up into a Category 3 major hurricane Wednesday evening as it bore down on the southern Mexico coast, threatening to unleash destructive winds, flash floods and a dangerous storm surge on the region in coming hours, forecasters said. Swiftly strengthening from a Category 1 hurricane hours earlier, Erick had maximum sustained winds of 125 mph (200 kph) by nightfall as it churned offshore about 55 miles (85 kilometers) southwest of Puerto Angel, the Miami-based U.S. National Hurricane Center said. Erick was also about 125 miles (200 kilometers) southeast of Punta Maldonado and moving northwest at 9 mph (15 kph) toward an expected landfall sometime Thursday morning, according to the center's latest advisory. A major hurricane is defined as Category 3 or higher and wind speeds of at least 111 mph (180 kph). Forecasters said further strengthening is expected and devastating wind damage is possible near where the eye crashes ashore. The projected path would take its center near the resort of Acapulco, which was devastated in October 2023 by Hurricane Otis, a Category 5 hurricane that rapidly intensified and caught many unprepared. At least 52 people died in Otis and 32 were missing, after the storm severely damaged almost all of the resort's hotels. In Acapulco on Wednesday, there was a strong presence of National Guard and police in the streets, but most visible were trucks from the national power company. Crews worked to clear drainage canals and brush. Some beaches were already closed, but tourists continued to sunbathe on others hours earlier as the storm gained strength well offshore. On a beach in Acapulco, a line of people waited for the help of a backhoe to pull their boats out of the water. Adrián Acevedo Durantes, 52, hauls tourists around Acapulco's picturesque coastline in boats. Two of his boats sank in Hurricane Otis and a third was badly damaged. 'We're taking precautions because with Otis we never expected one of that magnitude to come and now with climate change the water is warmer and the hurricanes are more powerful,' Acevedo said. This time the port administration ordered that no one ride out the storm aboard their boats. During Otis many lost their lives by staying on boats in the harbor, which had traditionally been how they ensured their safety during previous storms. He said knew some of those lost at sea. He acknowledged that it was sunny and the water calm Wednesday afternoon, making it hard to imagine a major storm was on the way, but said 'with Otis it was calm all day, sunny, then at midnight there were two hours of strong winds and we saw what had happened the next day.' Francisco Casarubio, a 46-year-old choreographer, carried a carton of eggs as he did some last-minute shopping ahead of the storm. He planned to pick up rice, beans and some canned food as well. His home flooded and lost power in Otis and said he was taking Erick more seriously, but hadn't had time to shop until Wednesday. Forecasters said Erick was expected to lash Mexico's Pacific coast with heavy rain, strong winds and a fierce storm surge. Rains of up to 16 inches (40 centimeters) could fall across the Mexican states of Oaxaca and Guerrero, with lesser totals in Chiapas, Michoacan, Colima and Jalisco states, the center's advisory said. The rainfall threatened flooding and mudslides, especially in areas with steep terrain. A hurricane warning was in effect from Acapulco to Puerto Ángel. A hurricane warning means hurricane conditions are expected in the area, and preparations to protect life and property should be rushed to completion, according to the hurricane center advisory. Down the coast in Puerto Escondido near the southern edge of Erick's possible path, some fishermen began pulling their boats out of the water under a drizzling sky Wednesday. Even though the wind had yet to pick up at the Zicatela beach, red flags were up to warn people to stay out of the water. But some surfers ignored them as they continued to ride waves. Laura Velázquez, Mexico's national civil defense coordinator, said Erick was forecast to bring 'torrential' rains to Guerrero, Oaxaca and Chiapas in southern Mexico. The mountainous region along the coast is especially prone to mudslides with numerous rivers at risk of flooding. Guerrero Gov. Evelyn Salgado said all schools were closed Wednesday and the state had alerted all of the fishing and tourism operators to make their boats storm-ready. Acapulco's port closed Tuesday evening. Salgado said 582 shelters were set to receive people who might evacuate their homes. President Claudia Sheinbaum warned in her daily briefing that those in the hurricane's path should heed government instructions and wait out the storm in their homes or designated shelters. Having doubled in strength in less than a day, Erick was churning through an ideal environment for quick intensification. Last year, there were 34 incidents of rapid intensification — when a storm gains at least 35 mph in 24 hours — which is about twice as many as average and causes problems with forecasting, according to the hurricane center.
CNN
15 hours ago
- Climate
- CNN
Erick strengthens into a Category 3 major hurricane approaching Mexico's coast
Hurricane Erick powered up into a Category 3 major hurricane Wednesday evening as it bore down on the southern Mexico coast, threatening to unleash destructive winds, flash floods and a dangerous storm surge on the region in coming hours, forecasters said. Swiftly strengthening from a Category 1 hurricane hours earlier, Erick had maximum sustained winds of 125 mph (200 kph) by nightfall as it churned offshore about 55 miles (85 kilometers) southwest of Puerto Angel, the Miami-based U.S. National Hurricane Center said. Erick was also about 125 miles (200 kilometers) southeast of Punta Maldonado and moving northwest at 9 mph (15 kph) toward an expected landfall sometime Thursday morning, according to the center's latest advisory. A major hurricane is defined as Category 3 or higher and wind speeds of at least 111 mph (180 kph). Forecasters said further strengthening is expected and devastating wind damage is possible near where the eye crashes ashore. The projected path would take its center near the resort of Acapulco, which was devastated in October 2023 by Hurricane Otis, a Category 5 hurricane that rapidly intensified and caught many unprepared. At least 52 people died in Otis and 32 were missing, after the storm severely damaged almost all of the resort's hotels. In Acapulco on Wednesday, there was a strong presence of National Guard and police in the streets, but most visible were trucks from the national power company. Crews worked to clear drainage canals and brush. Some beaches were already closed, but tourists continued to sunbathe on others hours earlier as the storm gained strength well offshore. On a beach in Acapulco, a line of people waited for the help of a backhoe to pull their boats out of the water. Adrián Acevedo Durantes, 52, hauls tourists around Acapulco's picturesque coastline in boats. Two of his boats sank in Hurricane Otis and a third was badly damaged. 'We're taking precautions because with Otis we never expected one of that magnitude to come and now with climate change the water is warmer and the hurricanes are more powerful,' Acevedo said. This time the port administration ordered that no one ride out the storm aboard their boats. During Otis many lost their lives by staying on boats in the harbor, which had traditionally been how they ensured their safety during previous storms. He said knew some of those lost at sea. He acknowledged that it was sunny and the water calm Wednesday afternoon, making it hard to imagine a major storm was on the way, but said 'with Otis it was calm all day, sunny, then at midnight there were two hours of strong winds and we saw what had happened the next day.' Francisco Casarubio, a 46-year-old choreographer, carried a carton of eggs as he did some last-minute shopping ahead of the storm. He planned to pick up rice, beans and some canned food as well. His home flooded and lost power in Otis and said he was taking Erick more seriously, but hadn't had time to shop until Wednesday. Forecasters said Erick was expected to lash Mexico's Pacific coast with heavy rain, strong winds and a fierce storm surge. Rains of up to 16 inches (40 centimeters) could fall across the Mexican states of Oaxaca and Guerrero, with lesser totals in Chiapas, Michoacan, Colima and Jalisco states, the center's advisory said. The rainfall threatened flooding and mudslides, especially in areas with steep terrain. A hurricane warning was in effect from Acapulco to Puerto Ángel. A hurricane warning means hurricane conditions are expected in the area, and preparations to protect life and property should be rushed to completion, according to the hurricane center advisory. Down the coast in Puerto Escondido near the southern edge of Erick's possible path, some fishermen began pulling their boats out of the water under a drizzling sky Wednesday. Even though the wind had yet to pick up at the Zicatela beach, red flags were up to warn people to stay out of the water. But some surfers ignored them as they continued to ride waves. Laura Velázquez, Mexico's national civil defense coordinator, said Erick was forecast to bring 'torrential' rains to Guerrero, Oaxaca and Chiapas in southern Mexico. The mountainous region along the coast is especially prone to mudslides with numerous rivers at risk of flooding. Guerrero Gov. Evelyn Salgado said all schools were closed Wednesday and the state had alerted all of the fishing and tourism operators to make their boats storm-ready. Acapulco's port closed Tuesday evening. Salgado said 582 shelters were set to receive people who might evacuate their homes. President Claudia Sheinbaum warned in her daily briefing that those in the hurricane's path should heed government instructions and wait out the storm in their homes or designated shelters. Having doubled in strength in less than a day, Erick was churning through an ideal environment for quick intensification. Last year, there were 34 incidents of rapid intensification — when a storm gains at least 35 mph in 24 hours — which is about twice as many as average and causes problems with forecasting, according to the hurricane center.
Al Jazeera
a day ago
- Climate
- Al Jazeera
Hurricane Erick approaches Pacific coast, threatens Mexico with flooding
Hurricane Erick is forecast to bring heavy rain, strong winds, storm surge and possible mudslides to southern coastal Mexico, the United States National Hurricane Center (NHC) has said, causing potential 'life-threatening flooding and mudslides.' Initially a tropical storm, Erick grew into a Category 1 hurricane on Wednesday, packing maximum sustained winds of 120km/h (75 mph), the meteorological centre said. It was located 255km (158 miles) from the town of Puerto Angel in the southern Mexican state of Oaxaca. 'Rapid strengthening is expected today, and Erick may reach major hurricane strength when it approaches the coast of southern Mexico Thursday,' the NHC said. Forecasts predicted rainfall across the Mexican states of Oaxaca and Guerrero, as well as less heavy rains for the states of Chiapas, Michoacan, Colima and Jalisco. Mexican President Claudia Sheinbaum urged the population to be alert. The storm's projected path would take its centre near the renowned resort of Acapulco, which was devastated in October 2023 by Hurricane Otis, a Category 5 hurricane that killed at least 52 people, and left a trail of destruction, after the storm severely damaged almost all of the resort's hotels. John, a Category 3 storm that hit in September last year, caused about 15 deaths.
Bloomberg
2 days ago
- Climate
- Bloomberg
Acapulco Under Hurricane Threat as Erick's Winds Gain Speed
Tropical Storm Erick is forecast to grow rapidly in strength as it nears Mexico's Pacific coast where it will likely make landfall early Thursday potentially near the popular resort town of Acapulco, which was devastated by Hurricane Otis in 2023. Erick's top winds, currently 72 kilometers (45 miles) per hour, are forecast to reach 177 kph in the next two days as the storm churns northwest toward the states of Oaxaca and Guerrero in southwest Mexico, the US National Hurricane Center said. It would be just 1 kph below the threshold of a Category 3 hurricane.
Associated Press
31-01-2025
- Business
- Associated Press
AM Best Affirms Credit Ratings of El Aguila, Compañia de Seguros, S.A. de C.V.
MEXICO CITY--(BUSINESS WIRE)--Jan 31, 2025-- AM Best has affirmed the Financial Strength Rating (FSR) of A- (Excellent), the Long-Term Issuer Credit Rating (Long-Term ICR) of 'a-' (Excellent) and the Mexico National Scale Rating of ' (Exceptional) of El Aguila, Compañia de Seguros, S.A. de C.V. (Mexico City, Mexico). The outlook of these Credit Ratings (ratings) is stable. These ratings reflect El Aguila's balance sheet strength, which AM Best assesses as strong, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management. The ratings also reflect El Aguila's support from its parent company (including continuous capital contributions), Great American Insurance Company, which currently has an FSR of A+ (Superior) and a Long-Term ICR of 'aa-' (Superior), each with a stable outlook. El Aguila was established in Mexico in 1994 and is a wholly owned subsidiary of Great American Insurance Company. Since 2016, El Aguila has diversified into other property/casualty lines besides the motor business, targeting small- and medium-size enterprises in the commercial segment through an independent network of local distribution partners. Given its small size, the company shows a greater geographic concentration than its peers, making it more vulnerable to market conditions in its main regional markets within Mexico. The company focuses on having higher renewal rates than those registered by its main peers, making heavy investments in advertising and direct sales channels in comparison with traditional distribution in Mexico's auto insurance segment, which is typically done through agents, car agencies and bancassurance alliances. In 2023, the company's portfolio grew 18% year-over-year and is expected to expand approximately 7.5% by the end of 2024, which is in line with expectations, as the company recovers from negative bottom-line results in previous years. Challenges for El Aguila in 2023 included high acquisition costs in its auto line, the creation of catastrophe reserves and the impact of Hurricane Otis on its overall portfolio. As of December 2024, the company has shown signs of recovery and profitable results, amid continuous support from its parent company in the form of capital contributions. El Aguila's risk-adjusted capitalization is strong, as measured by Best's Capital Adequacy Ratio (BCAR), with underwriting risk standing as the main component for required capital. In 2023 and 2024, the company benefited from capital contributions by its parent company to support its capital position after two years of consecutive negative results. A key factor going forward for AM Best's assessment of balance sheet strength will be the reinsurance recoverable generated by the effects of Hurricane Otis and the premium leverage to policyholder's surplus. Negative rating actions could occur if the company's capital base and risk-adjusted capitalization deteriorate to levels that no longer support the ratings, resulting from the materialization of execution risk or limitations in its business profile. Positive rating actions are unlikely in the short term, but they could occur if El Aguila sustains improvements in underwriting results and risk-adjusted capitalization in a steady fashion. A negative change in AM Best's perception regarding the actual or perceived level of El Aguila's strategic importance to the Great American Insurance Company group could also impact the company's ratings. CONTACT: Sebastian del Rio Associate Financial Analyst +52 55 1102 2720, ext. 117 [email protected] Rubo, FRM, CPCU Associate Director +52 55 1102 2720, ext. 134 [email protected] Sharkey Associate Director, Public Relations +1 908 882 2310 [email protected] Slavin Senior Public Relations Specialist +1 908 882 2318 [email protected] SOURCE: AM Best Copyright Business Wire 2025. PUB: 01/31/2025 11:32 AM/DISC: 01/31/2025 11:32 AM
