FRANKFURT (dpa-AFX) - Swiss Re Ltd. (SSREY.PK), a reinsurance firm, said on Thursday that it has estimated $115 billion of insured natural catastrophe losses for the 2022 to date period, which is well above the 10-year average of $81 billion.
According to Swiss Re Institute, total insured losses are estimated to be $122 billion, including man-made losses of $7 billion. In the year 2021, the company had estimated an insured natural catastrophe loss of $121 billion.
The fiscal 2022 is the second consecutive year in which the estimated insured total loss of over $100 billion, continuing the trend of a 5 percent to 7 percent average annual increase over the past decade.
Hurricane Ian that hit the state of Florida is the year's costliest natural catastrophe with an estimated preliminary insured loss of $50 billion to 65 billion.
In February, a series of winter storms hit Europe and prompted projected insured loss of over $3.7 billion. Insured losses due to flooding in Australia during February and March are currently estimated $4 billion.
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