Insight and Intelligence on the London & International Insurance Markets 24 Apr 2018

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Q4 wildfires shrink underwriting profits

  • Iulia Ciutina 6 February 2018
  • The P&C (re)insurance industry experienced another cat-heavy quarter in the three months to 31 December, as a series of wildfires ravaged California.

    The Golden State suffered two major wildfire outbreaks in 2017, with the October fires largely in the state's northern wine-growing region, including Napa, Solano, Sonoma and Mendocino counties, while the blazes in December affected Southern California.

    The California Department of Insurance said that insured losses for the fires have exceeded $11.79bn, and that excludes any claims related to...

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