Insight and Intelligence on the London & International Insurance Markets

25 February 2018

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RenRe to take $90mn wildfire loss

Fiona Robertson 6 December 2017

RenaissanceRe has said that the October Californian wildfires would have a $90mn net negative impact on its fourth quarter results.

CEO Kevin O'Donnell said the catastrophe highlighted the critical role that the insurance and reinsurance industry played in protecting people from natural disasters.

The reinsurer reiterated that there was meaningful uncertainty surrounding the losses due to the relatively limited claims data received to date, potential business interruption cover and uncertainties related to reinsurance recoveries, among other factors.

The estimate is...

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