Robinhood shares gain on Q2 beat, as user and crypto growth accelerate
Investing.com -- The Travelers Companies Inc (NYSE:TRV) on Tuesday disclosed a preliminary pre-tax loss estimate of $1.7 billion due to the California wildfires in January 2025.
This figure, which stands at $1.3 billion after-tax, encompasses impacts across the insurer’s personal and commercial segments, including its Fidelis quota share.
The estimate also accounts for expected contributions from the California FAIR Plan and anticipated reinsurance recoveries.
The January wildfires have prompted significant insurance claims, reflecting the extensive damage caused by the disaster.
Travelers’ Chairman and CEO, Alan Schnitzer, conveyed the company’s commitment to aid in recovery efforts, highlighting the proactive role of their personnel in assisting customers and communities affected by the fires.
Schnitzer also expressed gratitude towards first responders and relief organizations for their relentless efforts during this crisis.
Travelers, a leading provider of property and casualty insurance, has a history of facing substantial claims following natural catastrophes.
The financial impact of the January wildfires is likely to be felt across the insurance industry, given the scale of the disaster and the number of claims filed.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.