California Wildfires, Catastrophe Losses, and Coming Back to the Coast

The January 2025 Palisades and Eaton wildfires hit Travelers with a $1.7 billion pre-tax loss and pushed Q1 2025 net income down 65% — the company's worst quarter in years. By 2026, with discipline and pricing working through the book, Travelers announced it would EXPAND California homeowners coverage. This module unpacks one of the most consequential 18 months in Travelers' recent history and explains why catastrophe management is now a top-tier interview topic.