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Fires in California : the bill of the insurers better understood

by

Hubert Roy

December 3, 2018 09:30

Aon reported in the beginning of last week that the losses related to fires that have ravaged California couteraient more than ten billion dollars to the insurers. Various reports published last week supports this projection.

The reinsurance brokers Guy Carpenter is based on data collected by RMS to argue that insurers ‘ losses are expected to reach between$ 9 billion and$13 billion.

Regarding the firm’s rating Moody’s, it is estimated that they will vary between$ 10 billion and$ 15 billion. “Although the insured losses will reduce the profits of insurers and reinsurers in the fourth quarter of 2018, these losses will be manageable “, say the analysts of Moody’s in a report on the issue.

The weight of the disaster on insurers

Moody’s has also done an analysis of the impact on insurers in California, based on the weight of their premiums insured in that state compared to their overall portfolio in the United States, and this, in both personal insurance and insurance companies.

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