富国银行称，更不用说，在飓风米尔顿和飓风海伦妮的影响下，再保险费率可能会上升，这基本上意味着房主的保费会更高。Hurricane 'Milton' is moving towards the state of Florida in the USA. This Category 4 storm could have a catastrophic impact on millions of people and insurance companies still recovering from Hurricane 'Helene'.
In a research report, wells fargo & co said, 'Milton's insurance losses could reach hundreds of billions of dollars,' estimating the range of losses to be between 10 billion and 100 billion dollars, with a baseline scenario predicting a loss of 20 billion dollars. The bank stated that regardless of the scenario, the market seems to have priced in losses of over 50 billion dollars.
But what does this mean for insurance and reinsurance companies and their profits? Calculated based on wells fargo & co's underwriting scope, if losses exceed 50 billion dollars, this may represent 3.5% of the bank's capital and 106% of fourth-quarter profits, or 20% of annual profits. Clearly, the basic situation of JPMorgan will be somewhat better, equivalent to about 1.5% of its capital, accounting for 43% of fourth-quarter profits, or 8% of annual profits.
wells fargo & co stated that, not to mention, as a result of hurricanes Milton and Helene, reinsurance rates may rise, which essentially means higher homeowner premiums.
Hurricane 'Helene' formed at the end of September, hitting parts of Florida as a Category 4 storm. According to CoreLogic's data, this storm resulted in insurance and non-insurance, flood, and wind losses ranging from 30.5 billion to 47.5 billion dollars.
In addition, moody's estimates that Hurricane 'Helene' caused total private market insurance losses in the USA between 8 billion and 14 billion dollars, with the best estimate being 11 billion dollars. Last year, there were 28 weather and climate disasters, resulting in approximately 93 billion dollars in losses.
