Property
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CEO Cerio highlighted changes that allowed the insurer of last resort to combine commercial, coastal and personal lines. -
As fires still rage, many fear early $10bn-$20bn estimates were too optimistic.
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The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn.
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The index’s performance in November was stronger than the prior year, although YTD returns are behind 2023.
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Investigators are homing in on the likely causes of the incidents.
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The number of structures damaged may put the event on par with the fires of 2017 and 2018.
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Sources say 2025 could be as costly for wildfires as the $20bn-loss years of 2017-18.
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Total economic and insured losses are “virtually certain” to reach into the billions.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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The vehicle is smaller by 8% as White Mountains’ participation grew.
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Moody’s also expects losses in the billions of dollars.
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Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
