Globally, insurance and reinsurance industry losses from natural catastrophes hit $35 billion in the first half of 2022, which is 22% higher than the average for the past decade, according to Swiss Re Institute.
Floods and other secondary perils continued to wreak havoc in the opening six months of 2022, and combined with man-made events, drove an estimated $75 billion in global economic losses from catastrophes in the period.
In terms of total losses, the $75 billion reported by Swiss Re is down on last year’s $95 billion and 7% lower than the previous ten-year average of $80 billion.
