Farmers shares estimate of losses attributed to the California wildfires

Farmers (Farmers Insurance Exchange, Fire Insurance Exchange and Truck Insurance Exchange) released initial estimates indicating a $600 million loss from the recent California wildfires, net of the per occurrence reinsurance program and gross of tax (excludes the Farmers share of FAIR Plan losses) and approximately $250 million reinstatement premium payment.

The Exchanges’ “focused approach” to overseeing their coverage portfolio in the state, a strong capital base, and a comprehensive reinsurance program have positioned the Exchanges to effectively manage this event.
 
With deep roots in Southern California, the Farmers Exchanges remain dedicated to supporting the recovery process for all their customers, employees and communities impacted by the devastating fires. The Exchanges also want to reaffirm their previously announced commitment to expand coverage options in California.