Reinsurance News
California wildfires
California wildfire related insurance or reinsurance news and analysis. The California wildfire peril is a key exposure of the re/insurance market and an area where risk capital provides meaningful support to help policyholders recover after a wildfire disaster.
AM Best revises Mercury and its subsidiaries’ outlooks to stable from negative
26th February 2026
AM Best has revised the outlooks to stable from negative and affirmed the credit ratings for the members of Mercury Casualty Group (Mercury), based on Mercury’s net ultimate losses and reinsurance recoveries following the January 2025 California wildfires. The ratings agency affirmed the Financial Strength Rating of A (Excellent) and the ... Read the full article
Allstate estimates $175m January 2026 winter storm losses
19th February 2026
The Allstate Corporation, a US-based insurance and financial services provider, has announced preliminary catastrophe losses of approximately $175 million for January 2026, equivalent to $138 million after tax, primarily attributed to Winter Storm Fern. This compares with substantially higher catastrophe losses in January 2025, when the company reported $1.08 billion, or ... Read the full article
Insured cat losses drop by $40bn in 2025, but good luck no substitute for sound strategy: WTW
29th January 2026
A new report from Willis, a WTW business, with contributions from Willis Re, has revealed that natural catastrophes generated more than $100 billion in insured losses in 2025, marking the sixth consecutive year above that threshold and underscoring the continued severity and persistence of natural catastrophe risk even in the ... Read the full article
Wildfire strategist Jessica Morse joins Delos as government affairs consultant
26th November 2025
Jessica Morse, a government wildfire management expert, has joined MGA Delos Insurance Solutions as a government affairs consultant to property insurance. Her appointment signals a strategic move by Delos to enhance its support for California homeowners struggling to secure property insurance in locations facing high wildfire risk. Delos is a surplus lines ... Read the full article
Future California wildfire losses likely to exceed historical data: Willis Re
12th November 2025
Future wildfire losses in California are likely to exceed what recent fire footprints suggest, challenging how the re/insurance industry assesses and prices risk, Daniel Bannister, from Willis Research Network, states in a recent analysis. Two decades of intense fire activity has largely spared the state’s most high-value, highly exposed areas, but ... Read the full article
AXA XL supports CCRS report on rising wildfire risks and role of re/insurance
27th October 2025
AXA XL supported the publication of a new report by the Cambridge Centre for Risk Studies (CCRS), which highlighted the increasing frequency and severity of wildfires in California and the critical role of the re/insurance industry in enabling an effective recovery after such events. The research showed that wildfires have joined ... Read the full article
Delos expands wildfire coverage to 265,000 additional California homes
23rd October 2025
Delos Insurance Solutions, a property insurance managing general agent (MGA), has announced it will insure 265,000 additional homes across five southern California counties. Delos currently provides coverage for homes across California and the Western US, insuring 2.5 million homes in Los Angeles, Orange, Riverside, San Bernardino, and San Diego counties. The ... Read the full article
Moody’s latest wildfire model completes California Department of Insurance review
27th August 2025
Moody’s Corporation has disclosed that Moody’s RMS US Wildfire Model v2.0 has completed the review process established by the California Department of Insurance (CDI), enabling insurers to use the catastrophe model in their residential rate filings. The model was reviewed under the CDI’s rigorous Pre-Application Required Information Determination procedure, which includes ... Read the full article
Mercury targets growth in higher wildfire risk areas with new California rate filing
18th August 2025
Mercury Insurance, a California-based provider of auto and home insurance, has submitted a rate filing for its California Homeowners program, based on the State's Sustainable Insurance Strategy, to expand coverage in high-risk wildfire zones. The filing is the first to use the recently reviewed Verisk Wildfire catastrophe model, which helps estimate ... Read the full article
SiriusPoint to provide Arden with capacity for new US wildfire parametric solution
13th August 2025
Bermuda-based insurer and reinsurer SiriusPoint has partnered with Arden Insurance Services LLC, a United States-based commercial property managing general underwriter (MGU), as a capacity provider for the MGU's newly launched wildfire-exposed risks program, which includes embedded parametric coverage. Arden’s new Consolidated Fire Insurance Policy (CFIP) will initially be offered in California, ... Read the full article
US homeowners insurance market faces setback in early 2025 amid catastrophic events: AM Best
8th August 2025
According to a newly released analysis by AM Best, a credit rating agency and data provider specialising in the insurance industry, the US homeowners insurance segment experienced significant financial pressure in the first quarter of 2025. Following a year of marked improvement in 2024, the segment encountered its most challenging first ... Read the full article
Insured losses in 2025 could exceed $150bn following costly H1: Swiss Re
6th August 2025
The Swiss Re Institute has revealed that global insured losses from natural catastrophes hit $80 billion in H1 2025, which is almost double the 10-year average and more than half of the firm's projected full-year figure of $150 billion. According to the Swiss Re Institute, the Los Angeles County wildfires in January ... Read the full article
Mercury prepares homeowners insurance rate filing using Verisk Wildfire Model
29th July 2025
Mercury Insurance, a provider of property and casualty insurance, is preparing a homeowners insurance rate filing using the California Department of Insurance’s (CDI) recently approved Verisk Wildfire Model. Last week, the CDI completed its review of the Verisk Wildfire Model for use by insurers in assessing wildfire risk and property ... Read the full article
CDI completes review of Verisk’s wildfire model to help address California’s coverage crisis
25th July 2025
The California Department of Insurance (CDI) has completed its review of the Verisk Wildfire Model for the US, approving it for use by insurers in assessing wildfire risk and property insurance ratemaking—marking it as the first catastrophe model to successfully complete evaluation under the state’s new regulatory framework. This marks a ... Read the full article
Casualty insurers to be impacted by Los Angeles wildfires: Moody’s
18th July 2025
The insurance industry is bracing for a multi-million dollar impact, with casualty insurers facing significant liabilities from various potential triggers following the devastating wildfires that impacted Los Angeles in January 2025 - which burned over 50,000 acres and 20,000 structures and claimed 30 lives - according to a recent report ... Read the full article
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