North America
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Milton made landfall near Siesta Key yesterday, leaving 2.7 million homes without power. -
Over the past several months, Floir approved nearly one million policies for takeout from Citizens.
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On Wednesday, the model had suggested a mean figure at $25.3bn.
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Florida insurers averted a crisis, but reinsurers will still see damages.
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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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