California Wildfires Top Arch Capital’s Q4 Catastrophe Losses of $60M-$75M

Arch Capital Group reports estimated pre-tax losses of $60 million to $75 million from fourth quarter catastrophic events, primarily the California wildfires.

This estimated range of losses – net of reinsurance recoveries and reinstatement premiums – updates previous estimates from the so-called Tubbs Fire and includes the second series of California wildfires (known as the Thomas Fire). The losses also include a series of smaller catastrophe events around the globe.

“At this time, there are significant uncertainties surrounding the number of claims and scope of damage for both the Tubbs and Thomas Fires, as well as the other global events,” said Arch Capital in a statement.

Source: Arch Capital Group