Idalia insured losses in low to mid-single-digit billions after landfall: Gallagher Re

30 August 2023

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Tampa, Florida, USA. 30th Aug, 2023. Dani Araus, 27, walks down flooded Maple Avenue at Palmetto Beach in Tampa as Hurricane Idalia approaches the Big Bend region on Wednesday, August 30, 2023. (Credit Image: © Ivy Ceballo/Tampa Bay Times via ZUMA Press W

Early damage reports indicate significant flood and wind damage in northern Florida and southern Georgia with insured losses estimated in the low to mid-single-digit billions, said reinsurance broker Gallagher Re in a late Wednesday update.

These latest loss estimates remain little-changed from those in the broker’s pre-landfall report Tuesday and align with estimates from Moody’s RMS pegging Idalia as a $6.3bn

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Idalia insured losses in low to mid-single-digit billions after landfall: Gallagher Re

Early damage reports indicate significant flood and wind damage in northern Florida and southern Georgia with insured losses estimated in the low to mid-single-digit billions, said reinsurance broker Gallagher Re in a late Wednesday update.

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Idalia insured losses in low to mid-single-digit billions after landfall: Gallagher Re

Early damage reports indicate significant flood and wind damage in northern Florida and southern Georgia with insured losses estimated in the low to mid-single-digit billions, said reinsurance broker Gallagher Re in a late Wednesday update.

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Fuel a smarter strategy with our actionable market intelligence

Topics

GIE Gareat’s terrorism bond prices near top end of guidance at 5.25%

American Coastal targets $100mn of Florida named storm coverage

Twia to target 43% more limit at $5.8bn on exposure growth and Beryl losses

Allstate pegs October cat losses at $226mn post-tax

Plenum’s Dynamic Cat Bond Fund reaches $200mn in AuM