"Given the small segment of personal lines business we write and escalating costs, we cannot sustainably support personal lines coverages and do not plan to return," Tokio Marine Holdings Inc. reported. The company's commercial lines will still be offered in the state. Credit: Unwind/Adobe Stock
(Bloomberg) — California's already strained property insurance market is facing a new challenge as two more insurers, Tokio Marine America Insurance Co. and Trans Pacific Insurance Co., plan to withdraw from the wildfire-prone state entirely starting in July.
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