Australia: Perils estimates US$559m insured loss from January 2026 Victoria bushfires

Losses from two major winter storms in the United States – Fern in January and Hernando in February – are expected to result in a significant decline in underwriting profits for the first quarter of 2026, but the impact will be less severe than the California wildfires of 2025, according to AM Best.The ratings agency expects primary insurance companies to absorb much of the losses from these two e