Travelers says wildfires not expected to attach upsized cat XoL as it also buys more casualty cover

By David Bull

Published: Wed 22 Jan 2025

Travelers secured $150mn of additional limit on its $4bn xs $2bn cat excess-of-loss reinsurance placement at 1 January, but management said that while ongoing California wildfires will have a “material” impact on Q1 earnings and contribute to its aggregate deductible, they are not expected to lead to recoveries under the treaty.