(Reuters) — Property/casualty insurer RLI Corp. said Wednesday it expects to record third-quarter pretax net catastrophe losses of $65 million to $75 million from Hawaiian wildfires.
The range, which is net of reinsurance recoverables and includes reinstatement premiums, is based on the impact to about 200 structures where RLI provided primarily homeowners insurance, the company said in a statement.
The wildfires earlier this month on Maui killed hundreds of people, forced tens of thousands of residents and tourists to evacuate the island and devastated the historic resort city of Lahaina.
The fires became the deadliest natural disaster in the state’s history, surpassing that of a tsunami that killed 61 people on the Big Island of Hawaii in 1960, the year after Hawaii became a state.
The catastrophe risk modeling business of Moody’s said Tuesday it estimates the economic loss from the Hawaiian wildfires to be in the range of $4 billion to $6 billion.
