Morningstar DBRS Sees Initial Insured Losses Between $60B To $100B If Hurricane Milton Makes Direct Landfall In Tampa
Portfolio Pulse from Benzinga Newsdesk
Morningstar DBRS estimates that if Hurricane Milton makes a direct landfall in Tampa, the initial insured losses could range between $60 billion to $100 billion.
October 09, 2024 | 12:30 pm
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NEGATIVE IMPACT
The potential $60B-$100B insured losses from Hurricane Milton could significantly impact insurance companies, affecting the SPDR S&P Insurance ETF (KIE).
KIE, an insurance ETF, is likely to be impacted by the projected insured losses from Hurricane Milton, as it holds stocks of insurance companies that may face claims.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
The broader market, represented by SPY, may experience volatility due to the economic impact of Hurricane Milton's potential $60B-$100B insured losses.
SPY, representing the S&P 500, could be indirectly affected by the economic repercussions of the hurricane, though the impact is less direct than on insurance-specific assets.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50