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Florida insurers averted a crisis, but reinsurers will still see damages. -
Shares gained after Hurricane Milton did less damage than anticipated.
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The event has spared (re)insurers the more extreme scenarios that were under discussion earlier this week.
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Milton made landfall south of Tampa Bay at Category 3 on Wednesday night.
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Florida domestics, reinsurance rates and the NFIP are all under watch.
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The hurricane has destroyed hundreds of homes and left more than 2.7 million homes without power in Florida.
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American Integrity will take the largest chunk, out of six insurers total.
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The NHC storm track predicts landfall below Sarasota, south of Tampa Bay.
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Milton stole the limelight from slightly stuck PE-backed brokers, acquisitive globals and the casualty conundrum.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15ft for Tampa Bay.
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A hurricane warning has been issued for the east coast of Florida.
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Most sources noted expectations of a $50bn+ event, but the range of outcomes is huge.
