Earnings hit looms for re/insurers amid escalating wildfire losses: Fitch

The property/casualty reinsurer ratings are likely to remain unscathed by the Los Angeles wildfires, according to Fitch Ratings. However, near-term earnings will take a hit, especially for firms exposed to property, auto and business interruption claims. The agency warns that weaker capitalised insurers may face added strain, rising reinsurance costs, and mounting challenges in an already stressed market.