Hiscox said on Thursday that the wider insurance industry loss could be as high as 40 billion dollars (£31.6 billion), while most of its own losses would come through its reinsurance arm, Hiscox RE & ILS.
Hiscox also pointed to a 28 million dollar (£22 million) loss from the Baltimore Bridge collapse, which saw the major US suspension bridge collapse after a container ship struck one of its piers.
Hiscox has said it will take a 170 million dollar (£134 million) hit from the Los Angeles wildfires which broke out at the start of 2025.
Hiscox, meanwhile, said it would book its own loss on the event in the first quarter of the upcoming financial year, as it revealed a second consecutive year of record profit.
And property losses from the Palisades and Eaton fires alone have been predicted to potentially top 30 billion dollars (£23 billion), according to a Los Angeles Times analysis.
