Icosa Investments has revised its estimates for insured losses from Hurricane Milton, projecting a range between $20 billion and $60 billion. The hurricane, which made landfall near Sarasota, Florida, as a Category 3 storm, has since weakened as it moves toward the Atlantic. The company noted that while the situation is less severe than previously feared, there are still substantial losses anticipated for the reinsurance market, potentially leading to rising premiums. This ongoing uncertainty may create investment opportunities in the catastrophe bond market as the firm monitors further developments.
