• last month
Benzinga's PreMarket Prep is the #1 go-to source for everything you need to know before the market opens! Join our expert hosts as they break down the latest market trends, analyze key indicators, and provide actionable insights to help you navigate the trading day ahead.
Transcript
00:00Going to the insurance stocks though
00:03This did not they did not get hit on Hurricane Helene. The insurance stocks really didn't hurt at all the
00:10anticipation here of
00:12Obviously this being a lot worse than Helene is being priced into especially the reinsurers
00:17So people are gonna talk the obvious CNBC all-state progressive what really gets hit on
00:24Hurricanes are the reinsurance companies because they're the insurers of the insurance
00:30Yes, so they're like the last man standing. So when you get the natural disasters
00:35It's the reinsurance stocks that really get hit two big ones
00:38You're showing right now are in our had its worst day of the year yesterday. Nothing has happened yet
00:45That's just an anticipation that this is gonna be real bad
00:48So if you look Helene happened two weeks ago, you don't even see any movement on the chart in there
00:52You all-time highs all-time highs in these stuff. It didn't care about Helene
00:56It cares about this one and that is not good news because this market often is correct
01:02So this market is the very very scared that this is gonna do some significant damage
01:07So our and our obviously got crushed yesterday other insurer Everest re which is Everest group now
01:14They renamed themselves is symbol EG. It had its worst day of the year yesterday as well
01:21Just in anticipation again, nothing has happened yet
01:24So it's just
01:26Anticipating market anticipating that this could be really bad now again if it's a two these stocks are gonna be buys
01:31This is a three
01:34If it's a four or five
01:36Like if it is a five these stocks get cut in half. I'm not even joking. It can't hit as a five
01:41We don't want to see it hit as a five
01:43It's probably gonna hit as a three and that's what you know
01:47It's not gonna be pretty but they're gonna be able to like survive that rebuild it. So that's your scenarios
01:54Really three three probably a three. It's a very high likelihood. I hope three
01:58I hope and that's what we're gonna hope for three or less three or less
02:02My father-in-law has a place in Gulfport it condo 10th floor looks over the ocean. He's got hurricane windows in there
02:09I think they're strong enough to take a three
02:11Nothing takes a five when you're 180 mile an hour winds windows are blown out buildings collapse
02:16Like maybe not all buildings, but frame buildings with you know, like two by fours collapse in a five
02:22So you cannot get hit with a five so it's a four right now
02:27Hopefully continues to weaken as it moves further north maybe hits as a three and they're gonna be okay
02:34Some other I'm just gonna throw some other insurance names out there that we're moving yesterday
02:39I don't think these were moving as much because they're reinsurance place
02:43But just because they have more exposure to Florida then then some other stocks
02:49HRTG
02:51This is heritage insurance holdings was down 24% yesterday
02:57this is a
02:59Yeah, this is a regional property and casualty insurance company that has a lot of exposure in Florida
03:05And then, you know, similarly you have a CIC
03:09American Coastal Insurance Corps, which just the name of that American Coastal Insurance Corps
03:16I mean putting yourself at risk their
03:18HCI group
03:21Which is a another insurance company. See I was a symbol
03:29Scary
03:30AB this scares the hell out of me when I see these insurance stocks getting hit this hard ahead of it
03:35Like they are anticipating a very big disaster here. This is really scary

Recommended