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Analysts predict another difficult year for insurers amid elevated cat claims

June 14, 2021

Year-to-date, catastrophe claims look to be running 17% above the long-term average (2008-2020), leading analysts at Jefferies to forecast another difficult year for the global insurance industry.

At more than $30 billion, YTD insured catastrophe losses also exceed the 10-year average by more than 9%, but is an improvement from Jefferies’ April report, which pegged YTD insured weather losses at >30% above the long-term average.

During May, says Jefferies, insured severe weather losses in the U.S. of an estimated $2.2 billion came in below average and is estimated to be less than the equivalent perils in May 2019 and 2020, serving to lower the YTD excess of claims in 2021 over the average.

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