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The pre-landfall figures are not an official loss estimate from the modeller. -
The hurricane has destroyed hundreds of homes and left more than 2.7 million homes without power in Florida.
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Milton’s center is projected to make landfall near or just south of Tampa Bay.
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Integrity Re 2024-D and Lightning Re 2023-1A are two bonds that were marked down, although no trading has occurred.
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The NHC storm track predicts landfall below Sarasota, south of Tampa Bay.
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Hurricane Milton’s overall impact, based on the current pre-landfall scenario, could lead to “moderate losses” for Plenum’s funds.
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The government-backed scheme has greater take-up in areas in Milton’s path.
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Restrengthening to Category 5 is still possible, Siffert warns.
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Earlier this week, Moody’s RMS Event Response estimated the event would cost $8bn-$14bn.
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Prior forecasts indicated a more northward track towards Tampa Bay and St Petersburg.
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The storm is now predicted to make landfall south of Tampa Bay.
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The NHC is predicting storm surge, exacerbated by the tide, as high as 15 ft for Tampa Bay.
