Another major California insurer is reporting losses in excess of $1 billion from the Los Angeles area wildfires.
The Travelers Companies Inc. announced Tuesday it will lose an estimated $1.7 billion from last month’s wildfires, which swept through the region and destroyed tens of thousands of homes earlier this month. The L.A. wildfires could result in total losses of up to $164 billion and insured losses of up to $40 billion, according to preliminary estimates.
The New York-based company issued a preliminary estimate of catastrophe losses related to the wildfires of $1.7 billion pre-tax ($1.3