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International Business Times
International Business Times
Carla St. Louis

Travelers Says California Wildfires Cost Its Insurance Business $1.7 Billion

Travelers California Insurance
A house engulfed in flames in California. (Credit: AFP)

The Travelers Companies, Inc. reported a $1.7 billion pre-tax loss ($1.3 billion after-tax) due to the wildfires that devastated California.

The losses impacted personal and commercial insurance segments, including assessments from the California FAIR plan and recoveries from reinsurance, Travelers stated.

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