Big wildfires in Los Angeles caused a lot of damage! A huge insurance company, Munich Re, had to pay out a lot of money because of it. This is a really big deal for insurance companies.
- The wildfires were the worst ever for insurance.
- Munich Re had to pay about $1.26 billion in claims.
- Many buildings were destroyed or damaged.
| Fact | Number |
|---|---|
| Total estimated insurance claims | $45 billion |
| Munich Re's profit in 2024 | 5.7 billion euros |
| Munich Re's expected profit in 2025 | 6 billion euros |
