The company has disclosed that it expects net losses of between $500 million and $750 million from the California wildfires. President and COO Peter Clarke has said that the fires would also primarily be a reinsurance event for Fairfax through Odyssey, Brit and Allied World . Fairfax’s losses could be slightly higher than its typical range of 1% to 1.5% of industry losses due to reinsurance exposure, Clarke added.