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Firezat Five Bays Capital

Five Bays Capital acquires Firezat

Five Bays Capital has acquired Firezat , a company specializing in wildfire structure protection.

Founded in 2006, Firezat supplies aluminum-based wildfire shields used by the U.S. Forest Service and other agencies to protect historical landmarks and critical infrastructure.

Firezat’s shields create a protective barrier around structures without requiring maintenance, water, electricity, or chemicals, offering long-term protection against radiant heat and embers.

Five Bays Capital aims to scale Firezat’s technology to protect more communities and support the insurance market.

California Wildfire Loss Estimates – January 2025

  • Travelers: $1.7B pre-tax ($1.3B after-tax)
  • Berkshire Hathaway: $1.3B pre-tax loss from reinsurance operations
  • Munich Re: €1.2B ($1.26B) in claims
  • Liberty Mutual: ~$1.2B in losses
  • Allstate: $1.1B in insured claims
  • Farmers: ~$600M in initial loss estimates
  • AIG: ~$500M net loss before reinstatement premiums
  • Arch: $450M–$550M in expected losses
  • QBE: ~$200M in losses
  • Zurich: $200M pre-tax losses
  • Assurant: Losses near or exceeding $150M reinsurance retention
  • Markel: $90M–$130M pre-tax net losses
  • American Financial: $60M–$70M, with ongoing assessment
  • Progressive: $43M in catastrophe losses (72% personal property)
  • CNA: $40M–$70M net exposure, ongoing evaluation