6 December 2017Insurance

RenaissanceRe estimates California Wildfires hit at net $90m

Bermuda-based RenaissanceRe Holdings estimated the losses from the October 2017 California Wildfires will have a net negative impact of $90 million on its fourth quarter 2017 results of operations.

The October 2017 California Wildfires caused widespread damage to both personal and commercial property in and around the impacted regions.

"This catastrophe once again highlights the critical role that the insurance and reinsurance industry plays in protecting people and rebuilding communities in the wake of natural disasters," said RenaissanceRe CEO Kevin O’Donnell.

"As we have demonstrated consistently in the past, we stand ready to serve our customers in responding to the losses and promptly paying claims."

Take part in our reader survey to be in with a chance to win a £3,000 corporate subscription to Intelligent Insurer

More of today's news

Aspen group COO leaves; replacement revealed

Munich Re-backed insurtech Wrisk receives FCA authorisation

Chaucer receives Dubai specialty licence

Ardonagh Group appoints deputy CEO

UK insurtech Ripe expands into commercial insurance

Monarch collapse costs Saga insurance £2m

Don't miss our insurtech email newsletter - sign up today

Already registered?

For multi-user price options, or to check if your company has an existing subscription that we can add you to for FREE, please email Elliot Field at efield@newtonmedia.co.uk or Adrian Tapping at atapping@newtonmedia.co.uk

More on this story

Insurance

RenRe reports Q4 loss, improvements in renewals

1 February 2018 Bermuda-based RenaissanceRe Holdings reported a net loss attributable to shareholders of $3.5 million for the fourth quarter of 2017 but claims “strong execution at the January 1 renewals”.

Insurance

RenRe, Validus record worst combined ratios after hurricanes: Fitch

12 December 2017 RenaissanceRe Holdings and Validus Holdings registered the highest combined ratios in the first nine months of 2017, according to Fitch Ratings.

Insurance

California wildfire claims top $9.4bn in October

7 December 2017 California wildfires in October 2017 have triggered total insured losses that top $9.4 billion in residential and commercial claims two months after the event, according to the California Department of Insurance.

Sprint or marathon? Flexibility is key in the race for AI success, says Genpact

Berkshire Hathaway hit by reserving, cat losses in Q3; Geico a bright spark

Property rate trend reversed Q4 as storms gave pause: Ryan Specialty

Kova begins underwriting PI business via Hadron capacity agreement

Marsh unveils carbon credit risk facility backed by Sompo, Brit, Talbot

Trium partners with CyberCube to enhance data & analytics

BHSI strengthens Italy operations with AXA XL, Swiss Re hires

Hurricane Milton may cost Chubb up to $300m

RenaissanceRe estimates California Wildfires hit at net $90m

More on this story

Editor's picks

Editor's picks

More articles