Lancashire expects less property cat reinsurance rate softening after LA wildfires: CUO Gregory
Paul Gregory, Chief Underwriting Officer (CUO) of re/insurance company Lancashire Holdings Limited, expects there to be less property catastrophe reinsurance rate softening than initially anticipated for the remainder of 2025, following the impacts of the costly January wildfires in Southern California. Industry losses for the January 2025 Los Angeles wildfires are coalescing around the $40 billion mark, although some have suggested the total loss could be as high as $50 billion, while economic losses are expected to exceed $250 billion by some margin. For Lancashire, the fires are expected to...