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Insured Losses From Natural Catastrophes Set to Top $100 Billion

Tom Metcalf and Marion Halftermeyer of Bloomberg report that insured losses from natural disasters are set to top $100 billion.

The C3 Take
  • 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.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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