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 insured-loss-inducing catastrophes (which hit a record 142), and the insured price tag for severe convective storms (SCS), which reached US$64 billion for the first time, said the report published by Swiss Re Institute, Swiss Re’s research unit. (The report is titled “Natural catastrophes in 2023: gearing up for today’s and tomorrow’s weather risks“).
Although the earthquake in Turk