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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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The transaction sits above an earlier ILS deal from the French insurer.
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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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Hurricane Michael has produced 149,448 claims, according to the Florida Office of Insurance Regulation.
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The provider said the losses were driven by the impact of Hurricane Dorian and Japanese typhoons.
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This year is on track to be above average, according to the risk modelling firm.
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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.
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The August return was significantly below the 14-year historical average of 0.63 percent, according to the Eurekahedge ILS Advisers Index.