Notified Canadian wildfire losses fall

Early loss notifications for the Fort McMurray wildfire losses
from Canadian cedants have been revised downwards, The
Insurance Insider has learned.
According to multiple underwriting and broking sources, primary
Canadian carriers have now told their reinsurers that they expect
their losses to be less severe than some had feared, prompting some
head scratching in the industry about the size of the loss estimate
from PCS.
A number of cedants provided large loss ranges to their treaty
reinsurers,