(Bloomberg) – Insurers jumped in markets from Europe to Florida amid signs that predictions about Hurricane Irma's damage were excessively dire.

Giant reinsurers like Swiss Re and Munich Re, which shoulder risks for local insurers around the world, posted their biggest gains of the year Monday. Universal Insurance Holdings Inc., the largest provider of residential coverage in Florida, jumped 15% at 9:31 a.m. in New York, regaining some of its losses from last week.

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