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Ultimate losses from the Palisades, Eaton and Hurst fires are estimated at $4bn. -
A report from the reinsurance broker said fast rate approvals are key to stabilizing the California marketplace.
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The company, meanwhile, is bullish on E&S US casualty.
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The role at PCS included acting as primary touchpoint for ILS.
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The spillover impact from the LA wildfires will play a major role in how much reinsurance capacity will be available.
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Its post-tax estimate of $1.3bn is net of reinsurance recoveries.
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This year's modelled outputs have increased across all return periods.
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The start-up has achieved an A- credit rating from AM Best.
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Citizens approved an average 8.6% rate hike and decreases for one-fifth of policyholders.
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CFP has a $900mn reinsurance attachment point and is still receiving claims daily.
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Rate meanwhile continues to be an area of focus in the lines most impacted by social inflation, the CEO noted.
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The storm is likely to be one of the costliest weather events in Canadian history.
