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The bulls expect around $20bn-$30bn in Milton losses, with the bears anticipating $40bn-$50bn. -
The estimate includes private cover for residential, commercial and industrial property.
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Plenum said wind damage from Milton could lead to “moderate” losses for its cat-bond funds.
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Hurricane Milton will show the ILS product behaving as investors expect it to.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
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A $40bn Milton loss should barely dent many ILS returns but will trap some capital.
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The hurricane is likely to prevent rate reductions in property cat in 2025.
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Milton made landfall south of Tampa Bay at Category 3 on Wednesday night.
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Roman Romeo was named CEO of Reinsurance Solutions in Bermuda in April this year.
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This is based on insured loss estimates of between $20bn and $60bn.
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Milton’s center is projected to make landfall near or just south of Tampa Bay.
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Restrengthening to Category 5 is still possible, Siffert warns.
