Fitch Ratings has revealed that Hurricane Milton could result in insured losses of up to 50 billion dollars. The international credit rating agency Fitch Ratings announced that Hurricane Milton could lead to insured losses of up to 50 billion dollars. According to the statement from Fitch, considering the strong capital levels, it is unlikely that Hurricane Milton will affect the credit ratings of insurance and global reinsurance companies. The statement highlighted that Milton caused significant economic and insured losses, stating, “We estimate that Milton’s insured losses will range from 30 to 50 billion dollars. This will be the largest insured loss since Hurricane Ian destroyed a similar path in 2022, causing 60 billion dollars in losses.” The statement mentioned that insurance companies will shift a significant amount of losses to the reinsurance market. The announcement stated that Hurricane Milton is expected to increase global insured losses to over 100 billion dollars in 2024, marking the fifth consecutive year that losses have exceeded this threshold. The statement pointed out that the property market could see a hardening of premium rates depending on Milton’s losses and the amount of additional catastrophe losses for the rest of 2024, but significant property reinsurance price increases are unlikely as in 2023.