RenRe Estimate $90M Impact From Wildfires
Bermuda-based RenaissanceRe Holdings said it currently estimates that losses from the October 2017 California Wildfires will have a net negative impact of $90 million on its fourth quarter 2017 results of operations.
The California Wildfires caused widespread damage to both personal and commercial property in and around the impacted regions.
Kevin J. O’Donnell, CEO of RenaissanceRe, commented: “We extend our sympathies to all those affected by the October 2017 California Wildfires.
“This catastrophe once again highlights the critical role that the insurance and reinsurance industry plays in protecting people and rebuilding communities in the wake of natural disasters.
“As we have demonstrated consistently in the past, we stand ready to serve our customers in responding to the losses and promptly paying claims.”
