With the recent California wildfires seen as likely to drive the second most costly first-quarter on record for the global insurance and reinsurance industry, AIG CEO Peter Zaffino has warned that a $200 billion annual catastrophe loss year in 2025 could “recalibrate the entire industry.”Zaffino highlighted that, “Much more of the risk is now being … Read more
Euler ILS Partners, the specialist insurance-linked securities (ILS) investment manager, has issued an updated event report for the California wildfires, saying it believes the insurance industry loss may sit between $23 billion to $33 billion.In January, the investment manager released its first event report from the wildfires, where analysts initially estimated that insured losses from … Read more
The Los Angeles, California wildfires are a tail event for the peril and will demonstrate the continued and growing relevance of reinsurance, according to RenaissanceRe CEO Kevin O’Donnell, who also explained today that “most of our US property catastrophe programs are loss impacted.”The RenaissanceRe CEO further states that with the scale of the loss impact … Read more
Moody’s RMS Event Response said insured losses for the January 2025 Los Angeles fires will likely fall in the $20 billion to $30 billion range. The Jan. 17 estimate from Moody’s RMS came a day after CoreLogic put out a statement indicating a $35 to $45 billion range of insured losses for two major fires … Read more
The success of Lynch’s next film, Blue Velvet, helped assuage his disappointment, as did his move to television with the bizarrely surreal and influential series Twin Peaks—part detective story, part soap opera, with dashes of sci-fi and horror. The series spawned a spin-off prequel movie, Twin Peaks: Fire Walk With Me (1992), and a 2017 … Read more