European Insurers Absorb $3.5 Billion in Wildfire Losses, Impact Less Severe Than Anticipated

BTCC / BTCC Square / Global Cryptocurrency /

Author:

Release Time:

2025-05-26 01:07:01

Ten major European insurers have reported $3.5 billion in combined losses from the recent Los Angeles wildfires, with the financial burden primarily shouldered through reinsurance payouts. The figure, while substantial, falls below initial market expectations.

German reinsurers Munich Re and Hannover Re account for the lion’s share at nearly $2 billion. Swiss counterparts Swiss Re and Zurich follow with approximately $830 million in losses. Four UK-based firms—Hiscox, Lancashire, Conduit Re, and Beazley—collectively absorbed $500 million in damages.

French insurers Scor and AXA reported losses of $167 million and $100 million respectively. These confirmed figures represent nearly 10% of total insured losses from the disaster, with no speculative estimates included in the disclosures.

By:

Log in to Reply

Investors Flock to Gold Amid Economic Uncertainty, Echoing ’Dr. Doom’ Faber’s Warnings

Articles on this site are sourced from public networks or curated by AI for informational purposes only and do not represent BTCC’s views. Original rights belong to the respective authors. For copyright concerns, please contact [email protected]. BTCC assumes no liability for the accuracy, timeliness, or completeness of this information, and disclaims all liability arising from reliance on such content. This content is for reference only and should not be taken as investment, legal, or commercial advice.