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Tropical storm and storm surge warnings are in effect for the region. -
The investment manager, which is currently in run-off, is also monitoring the impact of Typhoon Hagibis.
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AIG had $550mn of cover for Japanese losses, analysts at Credit Suisse noted.
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The Bermudian reinsurer expects to pay out about $100mn in losses from Faxai and about $55mn for Dorian claims.
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The Saddleridge fire has destroyed 17 structures and damaged a further 77 properties.
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Gross cat losses for Japanese insurers this year could top 2018’s 1.6tn yen ($15bn) following Typhoon Hagibis, according to equity analysts Jefferies.
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Saddleridge is one of several wildfires to have hit California in recent days, with nearly 160,000 acres and 134 structures destroyed.
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The wildfire is threatening 13,000 homes and more than 100,000 people have evacuated.
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The storm is now at Category 4 strength, and tracking to make landfall in Japan at Cat 3.
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The provider said the losses were driven by the impact of Hurricane Dorian and Japanese typhoons.
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Meanwhile, insured losses from Typhoon Faxai will approach $5bn, according to the September Global Catastrophe Recap.
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Two Rugby World Cup matches scheduled to be played in Japan on Saturday have been cancelled.
