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Q1 catastrophe losses 33% higher than 10-year average: Jefferies

April 26, 2021

So far in 2021, global insurance and reinsurance market losses from natural catastrophes and severe weather are estimated to be running some 33% higher than the 10-year average, by analysts at investment bank Jefferies.

The majority of the catastrophe loss burden for the first-quarter of 2021 were to be found in the United States, at an estimated $17 billion.

The main drive was of course winter storm Uri and the freezing weather, which Jefferies analyst team attribute to roughly $15.3 billion of the total insurance and reinsurance market hit for Q1.

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