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Finance

Hannover Re sees Los Angeles fires claims of 500-700 million euros

Published by Global Banking & Finance Review

Posted on February 6, 2025

1 min read

· Last updated: February 6, 2025

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Hannover Re Estimates €500-700M Claims from LA Fires

FRANKFURT (Reuters) - Fires in the Los Angeles area may result in claims of between 500 million euros ($518.95 million) and 700 million euros for the reinsurer Hannover Re, the company's chief executive Jean-Jacques Henchoz said on Thursday.

He said that industry-wide losses could total between $30 billion and $40 billion.

($1 = 0.9635 euros)

(Reporting by Tom Sims and Alexander Huebner, Editing by Miranda Murray)

Key Takeaways

Hannover Re expects claims of €500-700 million.
Los Angeles fires could lead to $30-40 billion in industry losses.
CEO Jean-Jacques Henchoz provided the estimates.
The exchange rate is $1 = 0.9635 euros.
The fires have significant financial implications.

Frequently Asked Questions

What is the main topic?

The article discusses Hannover Re's expected claims of €500-700 million due to fires in Los Angeles.

What are the estimated industry losses?

Industry-wide losses from the Los Angeles fires could total between $30 billion and $40 billion.

Who provided the estimates?

The estimates were provided by Hannover Re's CEO, Jean-Jacques Henchoz.

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