BRUSSELS/FRANKFURT/PARIS (dpa-AFX) - Swiss Re Institute (SSREY.PK) Thursday announced that estimated insured losses from natural catastrophes might exceed $135 billion in 2024. Estimated insured losses were around $50 billion due to the severe impact of hurricane Helene and hurricane Milton.
The company noted that major floods that hit Europe and the Middle East has caused estimated insured losses of close to $13 billion as on December 5.
Balz Grollimund, Swiss Re's Head Catastrophe Perils, says: 'For the fifth consecutive year, insured losses from natural catastrophes break the USD-100-billion mark.'
According to the Swiss Re Institute's estimates, the year 2024 is considered the third-costliest year for this peril globally and the second costliest for Europe.
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