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# February 5, 2015: Goldman's Cat Bond Chief Millette Ready to Exit While Hong Kong Flu is Here to Stay
- URL: https://www.riskmarketnews.com/february-5-2015-goldmans-cat-bond-chief-millette-ready-exit-hong-kong-flu-stay/
- Published: 2015-02-05T06:52:07.000Z
- Updated: 2015-02-05T06:52:07.000Z
- Author: Chris Westfall

## Risk Science: What You Need to Read Today

### [Florida’s Hurricane ‘Luck’ Extends Back 50 Years](http://www.sun-sentinel.com/news/weather/hurricane/storm-center-blog/sfl-blog-82-luck-20150130-story.html?ref=riskmarketnews.com)

#### [Sun Sentinel](http://www.sun-sentinel.com/news/weather/hurricane/storm-center-blog/sfl-blog-82-luck-20150130-story.html?ref=riskmarketnews.com)

Florida was struck by 15 major hurricanes between 1915 and 1964 – and 10 in the past 50 years.

### [What If Sandy’s Surge Swamped Washington, D.C.?](https://www.climatecentral.org/news/what-if-sandys-surge-swamped-washington-dc-18591?ref=riskmarketnews.com)

#### [Climate Central](https://www.climatecentral.org/news/what-if-sandys-surge-swamped-washington-dc-18591?ref=riskmarketnews.com)

New Yorkers weren’t the only ones shocked and alarmed as Hurricane Sandy pushed a wall of water into the city, funneling the harbor into streets and sending torrents cascading into subways.

### [Hong Kong’s Flu is So Bad This Year, the Entire City Could Soon Be Wearing Face Masks](http://qz.com/339384/hong-kongs-flu-is-so-bad-this-year-the-entire-city-could-soon-be-wearing-face-masks/?ref=riskmarketnews.com)

#### [Quartz](http://qz.com/339384/hong-kongs-flu-is-so-bad-this-year-the-entire-city-could-soon-be-wearing-face-masks/?ref=riskmarketnews.com)

The particularly nasty strain of influenza that’s circling the globe this year is technically called H3N2, but it was once known as the “Hong Kong flu.”

### [Safeguarding Development from Natural Disasters](http://www.worldbank.org/en/news/feature/2015/02/04/what-does-it-take-to-bring-resilience-to-scale?ref=riskmarketnews.com)

#### [World Bank](http://www.worldbank.org/en/news/feature/2015/02/04/what-does-it-take-to-bring-resilience-to-scale?ref=riskmarketnews.com)

Natural disasters can hit developing countries with an economic force that can roll back development gains and exacerbate inequality.

## Risk Business: What You Need to Read Today

### [Goldman Sachs’s Head of Structured Finance Millette to Retire](http://washpost.bloomberg.com/Story?docId=1376-NJ9JXL6VDKHV01-75FRNRU2RLKVCQ5TQ0KABR9EE3&ref=riskmarketnews.com)

#### [Bloomberg](http://washpost.bloomberg.com/Story?docId=1376-NJ9JXL6VDKHV01-75FRNRU2RLKVCQ5TQ0KABR9EE3&ref=riskmarketnews.com)

Michael Millette, who helped Goldman Sachs Group Inc. develop the market for catastrophe bonds in the 1990s, is retiring after 21 years.

### [Prudential, Allstate Post Higher-Than-Expected Premiums](http://www.wsj.com/articles/prudential-allstate-post-higher-than-expected-revenue-1423085066?ref=riskmarketnews.com)

#### [WSJ (sub may be required)](http://www.wsj.com/articles/prudential-allstate-post-higher-than-expected-revenue-1423085066?ref=riskmarketnews.com)

Two U.S. insurers reported higher-than-expected premiums written but mixed operating earnings for the fourth quarter.

### [Munich Re Raises Dividend After 2014 Disaster Costs Fall](http://www.reuters.com/article/2015/02/05/munichre-results-idUSL6N0VF0RS20150205?ref=riskmarketnews.com)

#### [Reuters](http://www.reuters.com/article/2015/02/05/munichre-results-idUSL6N0VF0RS20150205?ref=riskmarketnews.com)

A deterioration in reinsurance market prices is making it increasingly difficult for Munich Re to sell reinsurance cover at a price commensurate with the risk.

### [Reinsurance Back-Up Safeguards GICs From Premium Loss](http://www.business-standard.com/article/finance/reinsuarance-back-up-safeguards-gics-from-premium-loss-115020500715%5F1.html?ref=riskmarketnews.com)

#### [Business Standard (India)](http://www.business-standard.com/article/finance/reinsuarance-back-up-safeguards-gics-from-premium-loss-115020500715%5F1.html?ref=riskmarketnews.com)

Risk premium unlikely to go up in any significant fashion next year for Indian insurers as a result of the soft reinsurance market.