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Milton made landfall south of Tampa Bay at Category 3 on Wednesday night. -
Roman Romeo was named CEO of Reinsurance Solutions in Bermuda in April this year.
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This is based on insured loss estimates of between $20bn and $60bn.
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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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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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Collateralised reinsurance and retro are in the firing line.
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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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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.
