The Swiss Re Institute has reported that global insured losses from natural catastrophes surged to $108 billion for the fourth consecutive year in 2023, with the earthquake in Turkey and Syria, severe convective storms (SCS) and large-scale urban floods acting as the main drivers. A news report from the Institute indicated that total global insured […]
A new report by the Swiss Re Institute has indicated that climate change will have a larger impact on economic losses in the future, with the US and Philippines projected to be the hardest hit. The report listed four key weather perils, namely floods, tropical cyclones, winter storms in Europe, and severe thunderstorms, which are […]
As economic development and climate change contribute to a fundamental shift to higher-risk, catastrophe-exposed property lines, global property and casualty (P&C) insurance premiums are forecast to more than double to USD 4.3 trillion by 2040.. According to an industry analysis conducted by Swiss Re Institute, the driving factors in premiums growth rise of more than […]