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The Palisades fire is estimated at $9bn-$12bn, while Eaton is $6bn-$8bn. -
Aetna, Inigo and GeoVera were the three sponsors seeking lower multiples.
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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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Utilities have faced major liabilities for their involvement in starting wildfires.
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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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AM Best said it expects insured losses from the California wildfires to be “significant”.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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Plenum said impact is marginal because wildfire contributes only marginally to the risk of bonds.
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The ILS manager analysed 16 UCITS fund portfolios to compare risk levels.
