In this report, we analyze the evolving risk factors that contribute to wildfire losses, and the resulting distressed insurance and reinsurance market dynamics for 2023.

Wildfires continue to pose a significant threat to an already fragile insurance and reinsurance market given recent profitability challenges. An extended wildfire season has become a daunting reality for many regions across the nation. To combat these challenges, Gallagher Re offers its clients an array of analytical tools and insights to tackle the intricacies of pricing, underwriting and portfolio management in the midst of a rapidly transforming environment.

Readers of this report can expect to:

  • Review 2022 US wildfire season and overall financial loss perspective
  • Understand the evolving risk of wildfires and factors leading to current market dislocation
  • Learn how insurers can better manage their wildfire risk given rapidly evolving market dynamics



1. Kramer, H. A., Mockrin, M. H., Alexandre, P. M., Stewart, S. I., & Radeloff, V. C. (2018). “Where wildfires destroy buildings in the US relative to the wildland urban interface and national fire outreach programs.” International journal of wildland fire, 27(5), 329-341.

2. Maranghides, Alexander, and William Mell. “A case study of a community affected by the Witch and Guejito wildland fires.” Fire technology 47 (2011): 379-420.

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