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LA Fires...Berkshire Hathaway cash pile
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Harry Gloom
Posted: 09 January 2025 11:33:09(UTC)
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Warren Buffet and Ajit Jain may need to deploy some of the Berkshire Hathaway cash pile via Geico for insurance payouts related to the LA fires. I heard an estimate of $50BM damages so far and the fires are still growing.
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Sara G on 09/01/2025(UTC)
Laurence O'Brien
Posted: 09 January 2025 14:17:37(UTC)
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Losses will be spread around the world via the reinsurance markets with a big chunk landing in London.
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Mostly Retired on 09/01/2025(UTC)
Mostly Retired
Posted: 09 January 2025 14:29:20(UTC)
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Joined: 24/04/2012(UTC)
Posts: 343
The reinsurance market will spread the pain, and there is even a specilalist Lloyd's syndicate to reinsure certain aspects of California wild fire risk to commercial property - Wildfire Defense Syndicate 1996.

Not sure if there is similar for personal line/property cover, but I suspect that there is.
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