Citi warns $30bn loss from LA wildfires will absorb one third of European reinsurer FY cat budgets

By Scott Vincent

Published: Thu 16 Jan 2025

Expectations of a $30bn industry loss from the Los Angeles wildfires could mean Europe’s major reinsurers will have used up around a third of their 2025 natural catastrophe budgets in the first two weeks of the year, Citi research analyst James Shuck has warned.