UK insurer Lancashire sees up to $165 million hit from Los Angeles wildfires

(Reuters) -British insurer Lancashire Holdings said on Thursday it expects losses of between $145 million and $165 million related to the California wildfires.

The ring of wildfires that devastated Los Angeles in January is expected to hit insurers with estimated losses as high as $20 billion, potentially making it the costliest disaster in California's history.

The Bermuda-based company said it is well-capitalised to achieve its strategic targets after assessing the losses.

(Reporting by Yamini Kalia in Bengaluru; Editing by Savio D'Souza and Subhranshu Sahu)