Analysts at JP Morgan have estimated that total natural catastrophe insured losses in Q1 so far are in the region of $6-8 billion.
The analysts write, “Despite there being a month to go in the quarter, losses still feel well below quarterly averages. Looking at the last 10 years, the average industry loss for Q1 is around $13.5bn which, adjusting for inflation, is probably close to $15bn for 2023.
“Therefore, we feel confident at this stage that the year has not got off to a bad start.”
