Reported about 18 hours ago
Munich Re, the world's largest reinsurer, expects to face approximately 1.2 billion euros ($1.26 billion) in claims due to the devastating wildfires in Los Angeles that occurred in January, which resulted in significant loss of life and property damage. This estimate marks one of the most substantial losses for a European reinsurer in recent history, amidst broader industry losses that could reach $45 billion. Despite the impact of the fires, Munich Re projects a rise in net profit for 2025.
Source: YAHOO