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:…