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Lancashire Holdings on Thursday said that it is facing a loss of between $145 million to $165 million from the wildfires in California. The Bermuda-based insurer said the estimated aggregate net ultimate loss falls within its modelled loss ranges for this type of catastrophe event. However, Lancashire Holdings said it remains ‘extremely well capitalised’ to achieve its aims. The firm said it should be able to deliver ‘an attractive return’ for shareholders in 2025 due to the aggregate reinsurance cover it has in place for events such as the fires in California. Chief Executive Officer Alex Maloney said: ‘Our thoughts are with all those affected by the recent wildfires which wrought such devastation in California. Events like this show the value of [re]insurance products in both offering protection and in supporting people as they rebuild their lives.’ The company said it will provide a further update on the losses and guidance for 2025 in its full-year results on March 6. Lancashire Holdings shares were down 5.4% at 595.00 pence in London on Thursday morning. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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