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25 February 2018

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California fire losses top $9bn as new blazes hit LA

Ted Bunker 6 December 2017

The California wine country wildfires in October left at least $9bn in insured losses, the state's industry regulator said today as a fresh set of fires raged in the Los Angeles area.

The new fires may add "another couple of billion dollars of catastrophe losses to an already challenged fourth quarter," Keefe, Bruyette & Woods analysts said in a note yesterday.

Flames roared through some of the metro area's most exclusive neighbourhoods north and west of the city, destroying homes...

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