The expression "aggregately holding 1% or more of the total shares of the company" refers to the aggregate of the shares held by two or more shareholders.
According to the insurance consultant Milliman, the combined 2017 and 2018 wildfire seasons wiped out about twice the profits for the previous 26 years.
Even the industries trillion dollar giants have not been spared, despite continuing to rake in handsome profits, alphabet Amazon, Apple and Microsoft have collectively lost two trillion dollars in market value in the past year.