Hurricane Milton could cost insurers up to $100 billion, analysts estimate

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Wed, 2024-10-09 12:28 — mike kraft

Hurricane Milton could cost insurers up to $100 billion, analysts say Hurricane Milton could result in losses of up $100 billion for the global insurance industry, creating a surge in 2025 reinsurance prices that could boost some insurance companies' shares, analysts said on Wednesday. Carolyn Cohn,Noor Zainab Hussain Reuters

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Insured losses from Milton could be from $60-$100 billion if the hurricane makes direct landfall in the densely populated area of Tampa, analysts at Morningstar DBRS said.

A loss of $100 billion would put Milton on a par with Katrina in 2005, they added, saying that insured losses would likely be "substantial but not catastrophic".

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