Although Mercury Insurance Group expects gross losses from the 2025 California wildfires in the $1.6 billion-$2.0 billion range, potential subrogation and reinsurance recoveries will drop the ultimate bill down to $325 million or less, the company believes.
“We believe there is strong video and other evidence that shows utility equipment caused the Eaton fire,” said Ted Stalick, senior vice president and chief financial officer, during an earnings conference call.
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Based on subrogation recoveries from 15