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AM Best said it expects insured losses from the California wildfires to be “significant”. -
The review follows Velocity’s acquisition by FM Group.
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This could see it surpass the 2017 Camp Fire, which cost around $12.2bn.
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The carrier tapped the run-off market in Q4 for a US casualty insurance-focused portfolio.
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The broker cautioned unresolved Russia-Ukraine claims remain a ‘Black Swan’
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Lynch served as CAC natural resources president for nearly four years.
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Moody’s also expects losses in the billions of dollars.
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Christopher Flatt succeeds Christopher Schaper, who was appointed CRO of AIG in November.
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'Mo’ Tooker will add personal lines to his current position overseeing SME and distribution.
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Six wildfires are now burning in SoCal, with the Palisades fire being the largest.
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Six fires now cover more than 27,000 acres across Southern California.
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Hurricane Milton resulted in the largest insured loss of the year at $25bn.
