From Barron's Stocks to Watch:
The Biggest Loser: Everest Re Tumbles 6.9%
Re-insurer Everest Re was the worst-performing stock in the S&P 500 today as investors began worrying about potential damage from Hurricane Irma.
Everest Re Group (RE) tumbled to the bottom of the S&P 500 today on concerns that Hurricane Irma would hammer Florida, resulting in widespread insurance losses.
FBR Capital Markets analysts Randy Binner and Weston Bloomer contend it's "far too early" to estimate Irma losses:
We are beginning to monitor Hurricane Irma. It is far too early at this point to estimate potential landfall and losses, but current projections from NOAA forecast that Irma will approach the Dominican Republic on Thursday. Irma bears an initial path that is similar to other September U.S. land-falling hurricanes....MORE
