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The firm still expects to deliver positive net income for Q3 2024. -
Many in the ILS sector are bullish on Milton losses falling at the lower end of earnings impacts.
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The company said $13bn-$22bn will come from wind damage.
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Florida domestics, aggregate retro and flood deals were all marked down.
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HCI is estimated to incur a net expense of $125mn for Milton in Q4 2024.
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Most of the insured loss was attributable to wind.
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Icosa said certain cat bonds could see more than 0.2 points of price movement.
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The bulls expect around $20bn-$30bn in Milton losses, with the bears anticipating $40bn-$50bn.
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RMS will issue its final loss estimates for Milton later this week.
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Plenum said wind damage from Milton could lead to “moderate” losses for its cat-bond funds.
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The company is monitoring the NFIP’s flood-exposed bonds.
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power.
