Monday, November 30, 2020

Re/insurance: "U.S. wildfire losses reach $11.5bn after October: Jefferies"

From Artemis, November 25:

Insurance and reinsurance industry losses from wildfires in the United States are now estimated to have reached around $11.5 billion, making 2020 the third most costly wildfire season on record for the market.

This is according to analysis by investment bank Jefferies and based on data sourced from reinsurance market players Aon, Swiss Re and Munich Re.

Jefferies noted in a recent report that industry estimates for some catastrophe losses have risen recently, which looks like it may include some of the wildfire activity.

Just earlier this month insurance and reinsurance broker Aon said that wildfire insured losses in western states including California, Colorado and Oregon had surpassed $8 billion, but Jefferies figure of $11.5 billion is now the highest seen for 2020 so far.

2020 is set to be the third most costly U.S. wildfire year on record, after 2017’s $15 billion to $17 billion and 2018’s $18 billion to $20 billion estimates....

....MORE

And from the National Interagency Fire Center:

Year-to-date statistics
2020 (1/1/20-11/13/20) Fires: 49,815 Acres: 8,750,197
2019 (1/1/19-11/13/19) Fires: 45,840 Acres: 5,418,234
2018 (1/1/18-11/13/18) Fires: 51,721 Acres: 8,498,644
2017 (1/1/17-11/13/17) Fires: 54,153 Acres: 8,893,198
2016 (1/1/16-11/13/16) Fires: 56,771 Acres: 5,126,918
2015 (1/1/15-11/13/15) Fires: 55,237 Acres: 9,809,467
2014 (1/1/14-11/13/14) Fires: 50,304 Acres: 3,440,219
2013 (1/1/13-11/13/13) Fires: 43,025 Acres: 4,108,058
2012 (1/1/12-11/13/12) Fires: 53,449 Acres: 9,110,745
2011 (1/1/11-11/13/11) Fires: 64,932 Acres: 8,207,064
2010 (1/1/10-11/13/10) Fires: 64,699 Acres: 3,735,972
10-year average Year-to-Date
2010-2019 Fires: 53,522 Acres: 6,539,980

note: they haven't updated since November 13.