{"id":360,"date":"2025-03-06T09:00:46","date_gmt":"2025-03-06T10:00:46","guid":{"rendered":"https:\/\/esportslegendary.com\/?p=360"},"modified":"2025-03-06T13:05:30","modified_gmt":"2025-03-06T13:05:30","slug":"la-wildfires-erode-a-good-portion-of-lancashires-annual-aggregate-reinsurance-deductible","status":"publish","type":"post","link":"https:\/\/esportslegendary.com\/index.php\/2025\/03\/06\/la-wildfires-erode-a-good-portion-of-lancashires-annual-aggregate-reinsurance-deductible\/","title":{"rendered":"LA wildfires erode \u2018a good portion\u2019 of Lancashire\u2019s annual aggregate reinsurance deductible"},"content":{"rendered":"<p>Losses from the extremely damaging and costly Los Angeles, California wildfires have eroded \u201ca good portion\u201d of the annual deductible of Bermuda-based Lancashire\u2019s aggregate reinsurance cover, the company has revealed.<\/p>\n<p><a href=\"https:\/\/www.reinsurancene.ws\/lancashire-anticipates-up-to-165m-in-losses-from-california-wildfires\/\">Last month<\/a>, Lancashire announced estimated, aggregate net ultimate losses from the January 2025 wildfires in California of between $145 million and $165 million.<\/p>\n<p>The firm explained at the time that this estimate is undiscounted, after anticipated recoveries from its outwards reinsurance programme and the impact of outwards and inwards reinstatement premiums.<\/p>\n<p>At the January 1st, 2025, reinsurance renewals, Lancashire secured annual aggregate worldwide coverage for its property treaty and direct and facultative books.<\/p>\n<p>The re\/insurer explains that each qualifying event is subject to an occurrence layer with a per event deductible and limit, and as-if recoveries from that layer erode the annual aggregate deductible.<\/p>\n<p>\u201cOur California wildfire loss estimate erodes a good portion of the annual aggregate deductible, reducing it for<br \/>\nsubsequent events,\u201d reveals Lancashire.<\/p>\n<p>Once the aggregate deductible has been fully eroded, additional losses are recovered from the annual aggregate reinsurance limit secured at 1.1 2025.<\/p>\n<p>You can see from the image below, provided by Lancashire, that the California wildfire losses have eroded more than 50% of Lancashire\u2019s annual aggregate deductible.<\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-171153 aligncenter lazyload\" src=\"data:image\/gif;base64,R0lGODlhAQABAAAAACH5BAEKAAEALAAAAAABAAEAAAICTAEAOw==\" alt=\"lancashire-agg-reinsurance-la-fires\" width=\"700\" data-src=\"https:\/\/esportslegendary.com\/wp-content\/uploads\/2025\/03\/lancashire-agg-reinsurance-la-fires.jpg\"><\/p>\n<p><a href=\"https:\/\/www.reinsurancene.ws\/lancashires-gpw-up-11-in-2024-with-growth-in-property-and-specialty-reinsurance\/\">Lancashire provided this update on its aggregate reinsurance for 2025 alongside the release of its full year 2024 results<\/a>, which were strong and included an 11% year on year rise in gross premiums written to $2.149 billion.<\/p>\n<p>The post <a href=\"https:\/\/www.reinsurancene.ws\/la-wildfires-erode-a-good-portion-of-lancashires-annual-aggregate-reinsurance-deductible\/\">LA wildfires erode \u2018a good portion\u2019 of Lancashire\u2019s annual aggregate reinsurance deductible<\/a> appeared first on <a href=\"https:\/\/www.reinsurancene.ws\">ReinsuranceNe.ws<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Losses from the extremely damaging and costly Los Angeles, California wildfires have eroded \u201ca good portion\u201d of the annual deductible of Bermuda-based Lancashire\u2019s aggregate reinsurance cover, the company has revealed. Last month, Lancashire announced estimated, aggregate net ultimate losses from the January 2025 wildfires in California of between $145 million and $165 million. The firm&#8230;<\/p>\n","protected":false},"author":1,"featured_media":362,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[],"class_list":["post-360","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-reinsurance"],"_links":{"self":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/360","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/comments?post=360"}],"version-history":[{"count":2,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/360\/revisions"}],"predecessor-version":[{"id":363,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/posts\/360\/revisions\/363"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/media\/362"}],"wp:attachment":[{"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/media?parent=360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/categories?post=360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/esportslegendary.com\/index.php\/wp-json\/wp\/v2\/tags?post=360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}