Global insured losses from natural catastrophes in 2023 totaled $108 billion, exceeding 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 …
Global natural catastrophes cost insurers US$50 billion in the first half, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, according to Swiss Re. “Severe convective storms – storms associated with thunder, lightning, heavy rain, …
Hurricane Ian and other natural catastrophes, such as European winter storms, floods in Australia and hailstorms in France and the U.S., have cost global insurers an estimated $115 billion so far this year, according to a report published by Swiss …
Swiss Re estimates it will pay claims of approximately $1.0 billion for natural catastrophes booked in the fourth quarter of 2018, with the largest generated from California wildfires and Hurricane Michael. These natural disaster claims will mainly affect its Reinsurance …
Global insured losses from natural catastrophes were US$144 billion in 2017, the highest-ever recorded in a single year, according to the latest sigma study from the Swiss Re Institute. The biggest losses came from Hurricanes Harvey, Irma and Maria (HIM), …
In an increasingly connected and globalized world, the insurance industry needs to work together to understand and accommodate the many disruptions it faces today and in the future, according to Sean Kevelighan, CEO of the Insurance Information Institute (III), during …
