Reported about 21 hours ago
U.S. property and casualty insurance stocks dropped as concerns rise over potential billion-dollar losses from devastating wildfires in Los Angeles. Analysts estimate that insured losses could exceed $20 billion, making it one of the costliest wildfire events in U.S. history. Major insurers like Travelers and Mercury General experienced significant stock declines, highlighting the financial impact on the insurance sector amid a challenging California market.
Source: YAHOO