The Los Angeles wildfires of January 2025 broke the record for the costliest fire insurance losses in history, with the insured losses alone reaching $40 billion, according to a new report.
The San Francisco Chronicle reported Friday that the total losses of the Palisades Fire and Eaton Fire were $65 billion.
It cited a new report from Gallagher Re, a global reinsurance firm, that calculated the total losses of the wildfires. The firm wrote:
The insured losses from January’s Los Angeles wildfires are anticipated to reach USD40 billion, making it the costliest series of wildfire events for the insurance sector to date. From an insurance claims…
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