H1 2017 insured disaster losses $23bn
Saturday, 08 19 2017, Category: Nature, Country: World
Reinsurance firm Swiss Re has given a preliminary estimate for global economic and insured losses from natural and man-made disasters of just $23 billion for the first-half of 2017, which is down 36% on the prior year and 30% below average. Economic losses are estimated at just $44 billion, down from $117 billion in H1 2016.
It’s another signal that reinsurance pricing is set to remain under pressure, as insured losses from catastrophes, man-made incidents and severe weather events come in well below (30%) the 10-year average of $33 billion meaning reinsurance capital levels will remain abundant.