Update on California Wildfires
California wildfires have received a lot of attention in 2019. Compared to previous years, the fires are limited, primarily due to successes in limiting the extension of each fire. Currently, no large urban centres are threatened, and we do dot expect any direct effect on cat bonds. The fund does not hold any bonds specifically exposed to wildfires.
In 2019, until October 27, there has been 5,061 wildfires in California, affecting an area of 301 km2. In the same period in 2018, 5,248 wildfires had started, affecting an area of 2,558 km2. The five-year mean is 5,204 wildfires and 1,508 km2, respectively.