- At least one disaster modeling firm is lowering its damage estimate to just $49B from $200B previously, as Irma over the weekend shifted its wrath away from Florida's east coast, and mostly spared Tampa on the west coast.
- The insured loss is likely to be far less than even that $49B says that same disaster modeler.
- The Florida-exposed insurers figure to have the biggest rallies today. Premarket action: Universal Insurance (NYSEMKT:UVE) +15%, HCI Group (NYSE:HCI) +6%, United Insurance (NASDAQ:UIHC) no trades.
- Other P&C players: Travelers (NYSE:TRV), Allstate (NYSE:ALL), Progressive (NYSE:PGR), Chubb (NYSE:CB), Alleghany (NYSE:Y), 1347 Property (NASDAQ:PIH), Kinsale Capital (Pending:KNSL), Selective (NASDAQ:SIGI).
- Reinsurers: Everest Re (NYSE:RE), RenaissanceRe (NYSE:RNR), Aspen (NYSE:AHL), Endurance (NYSE:ENH), Axis Capital (NYSE:AXS), Arch Capital (NASDAQ:ACGL), Reinsurance Group (NYSE:RGA), Unum Group (NYSE:UNM), Maiden Holdings (NASDAQ:MHLD), Greenlight (NASDAQ:GLRE)
- Now read: Preferred Stock IPO: 5.45% From Arch Capital Group
Original article