December 6, 2018 / 8:00 AM / 7 days ago

Beazley sees initial $40 million hit from California wildfires

(Reuters) - Lloyds Of London insurer Beazley Plc BEZG.L said on Thursday it estimated the initial cost of the California wildfires to be $40 million (31 million pounds), net of reinsurance.

The company, which is a part of the oldest insurance market in the world, had last month estimated the initial cost of the recent Atlantic hurricanes and the typhoons in Asia to be around $105 million.

Reporting by Karina Dsouza and Noor Zainab Hussain in Bengaluru; Editing by Bernard Orr

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