Insured losses from January’s wildfires in Los Angeles (LA) pushed global insured losses to $56bn in Q1, the costliest first quarter since 2011, Gallagher Re said in its quarterly catastrophe report.
The
LA wildfires drive Q1 losses to $56bn: Gallagher Re
SCS losses were also above average in Q1 due to “lingering” La Niña conditions.