$108 billion in insured losses: facing the new normal of weather risks

In 2023, the world experienced over $108 billion in insured losses, driven by a record frequency of 140+ natural disaster events, mainly severe convective storms. This was the fourth consecutive year with losses exceeding $100 billion, signaling a new normal.

In the latest Executive Dialogue on 'Gearing up for today's and tomorrow's weather risks' the panel explore key drivers, including climate change, urbanization, population growth, and economic inflation. Increasing transparency across the value chain, managing the transition to net zero, and enhancing data on severe storms will be crucial – as will enhanced collaboration with clients and policymakers.

Our host Anthony Kennaway, Head of Public Affairs, is joined by a panel of Swiss Re experts to discuss the need for a comprehensive approach to build resilience. Members of the panel include Jerome Haegeli, Group Chief Economist, Krysti Adamson, Head of US P&C Globals, and Mohit Pande, Chief Underwriting Officer Property.

*Swiss Re*
The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient. It anticipates and manages risk – from natural catastrophes to climate change, from ageing populations to cyber crime. The aim of the Swiss Re Group is to enable society to thrive and progress, creating new opportunities and solutions for its clients. Headquartered in Zurich, Switzerland, where it was founded in 1863, the Swiss Re Group operates through a network of around 80 offices globally.

#naturaldisaster #storm #insurance #climatechange #inflation

[effa]

This just isnt sustainable in the longer run