Global insured losses from natural catastrophes in 2023 exceeded US$100 billion for the fourth consecutive year – an indication of the new norm for nat cat losses, according to Swiss Re. Other record-breaking numbers for 2023 included the total of …
Global insured losses from severe thunderstorms have hit a new all-time high of US$60 billion in 2023, with overall natural catastrophe claims surpassing $100 billion, according to Swiss Re Institute in a new report. As the US is particularly prone …
High inflation alone led to an increase in property/casualty claims of 5-7.5%, across five key markets in 2022, according to Swiss Re research. “In 2023, we expect that inflation should lead to an additional increase of 3.5-6.5%,” said Swiss Re …
The World Bank is looking to restart the issuance of catastrophe bonds to help developing countries improve their preparedness for losses from natural disasters. The supranational lender has issued close to $2.6 billion of catastrophe bonds since 2014, including a …
The global economy is expected to strengthen moderately next year, which will support insurance premium growth in most regions, according to Swiss Re’s latest publication titled “Global insurance review 2015 and outlook 2016/17.” Demand for non-life insurance is expected to …
Missouri’s top insurance regulator says a new report on exposures within the reach of the New Madrid seismic zone reinforces the need for residents in affected areas to purchase earthquake insurance. Missouri Insurance Director John Huff says, however, there is …
“Food manufacturers operate in a vast, globalized supply chain, where one mislabeled product or contaminated ingredient can cause sickness, death, multi-million dollar losses and massive reputational damage for the affected companies,” says a new report – Swiss Re’s “Food Safety …
A study, – “Financial repression: The unintended consequences -” released by Swiss Re, notes that “seven years after the financial crisis, central banks are still keeping interest rates at historically low levels.” They keep them low as the policy helps …
In an assessment of the prospects for insurance market in 2014/15, Swiss Re’s latest report concludes that “global economic growth will continue to strengthen in 2014, which will in turn “support on-going premium growth in the non-life primary market, particularly …
River floods top the list of risks posing dangers to more people than any other natural catastrophe, according to a new Swiss Re report, which “benchmarks” the natural catastrophe risks faced by 1.7 billion city-dwellers in 616 metropolitan centers around …
