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Sources are saying 2025 could be as expensive for wildfires as the $20bn loss years of 2017 and 2018. -
Total economic and insured losses are “virtually certain” to reach into the billions.
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AM Best said it expects insured losses from the California wildfires to be “significant”.
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The review follows Velocity’s acquisition by FM Group.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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It is understood that the bid is part of Sisa’s expansion plans across Central America.
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The carrier tapped the run-off market in Q4 for a US casualty insurance-focused portfolio.
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A quick roundup of today’s need-to-know news, including LA fires, Fair plan exposure and Flatt’s promotion.
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The broker cautioned unresolved Russia-Ukraine claims remain a ‘Black Swan’
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Lynch served as CAC natural resources president for nearly four years.
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Moody’s also expects losses in the billions of dollars.
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Christopher Flatt succeeds Christopher Schaper, who was appointed CRO of AIG in November.
