Tom Metcalf and Marion Halftermeyer of Bloomberg report that insured losses from natural disasters are set to top $100 billion.
- Last year’s global insured losses topped $125 billion compared to an average cost of $81 billion over the past 10 years.
- $5 billion of this estimate includes the devastating earthquakes in Turkey and Syria, although the total cost of these disasters is higher because much of the area was not insured.
- More than two-thirds of insured losses were a result of thunderstorms in the United States.
“Munich Re has put the total global insured costs of natural-catastrophe events in the first half of 2023 at $43 billion, while Swiss Re has pegged it at $50 billion, according to a report by Bloomberg Intelligence.”
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