Hurricane Milton has the potential to cause tens of billions of dollars in damage, according to some estimates. Historically, shares of insurers have declined in the lead-up to a major storm's landfall and then recover after losses are quantified, Piper Sandler analysts wrote.

LONDON (Reuters) -Hurricane Milton could result in losses of up $100 billion for the global insurance industry, creating a surge in 2025 reinsurance prices that could boost some insurance companies' shares,

Hurricane Milton could result in a $60 billion loss for the global insurance industry, creating a surge in 2025 reinsurance prices which could boost some insurance companies' shares, analysts at RBC Capital said.

Hurricane Milton could trigger insurance losses of up to $60bn if it stays on its current path, with analysts warning the US’s 2024 hurricane season will “dent” insurers’ profitability. The National Hurricane Center forecasts that the storm,

Insured losses could be anywhere between $10 billion and $100 billion, according to the bank, but its base case scenario is $20 billion.

Another devastating storm could cause homeowners insurance to spike in a state that already has some of the highest premiums in the country.