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Stocks with exposure to the insurance and reinsurance businesses rose Wednesday as Hurricane Idalia made landfall in Florida’s Big Bend region on the Gulf of Mexico and caused widespread flooding, but missed any major population center as it came to shore.
Hurricane Idalia made landfall at around 7:45 a.m. Eastern Time on the coast of the Florida Big Bend near Keaton Beach, according to the National Hurricane Center.
The storm hit the coast as a Category 3 storm with winds near 125 mph as it weakened from a Category 4.
Most publicly traded companies active in the insurance sector moved higher.
Swiss Re
SREN,
dipped 0.3%, while Aon Plc
AON,
rose 0.5%, Allstate
ALL,
rose 1%, Travelers
TRV,
rose by 0.3%, Everest Group
EG,
rose 1.5%, Willis Towers Watson
WTW,
moved up by 0.9% and Arthur Gallagher
AJG,
rose by 0.5%.
Progressive
PGR,
rose 0.8%, Chubb Ltd.
CB,
rose 0.3%, Hanover Insurance Group
THG,
rose by 0.6%, Renaissance Re
RNR,
moved up by 1.7% and Arch Capital Group
ACGL,
advanced by 1.3%.
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