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The carrier expects the market loss to land at $35bn-$40bn. -
The carrier pegged its claims expenditure for the LA wildfires at EUR1.2bn.
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Cedants could choose to retain more as cross-share sell-offs boost their capital.
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The conglomerate reported after-tax cat losses of $1.2bn related to Hurricanes Helene and Milton in 2024.
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Retention levels for reinsurance fell across the different geographies the carrier operates in.
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The ratings agency has revised Mercury’s outlook from stable to negative.
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The carrier estimated January cat losses of $1.08bn, or $849mn after-tax, including the fires.
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The carrier pegged its California wildfire losses at $200mn pre-tax.
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In tandem, it pegged its net cat loss estimate from California wildfires at $160mn-$190mn.
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The carrier said 72% of those losses occurred in personal property.
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