The Hanover’s CFO Jeff Farber disclosed that the financial impact of natural catastrophes in January 2025 is expected to be “less than $10mn above the monthly cat plan of $30mn,” overwhelmingly driven by the California wildfires.
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The Hanover expects majority of January cat expense to be driven by CA wildfires: CFO
The carrier anticipates the impact of the wildfires to drive January cat losses up to $40mn.