According to a report published by Swiss Re, there has been an upward trend in natural catastrophe-insured losses over the past six years. The data shows a rise of about 5‒7% in average annual losses established over the last 30 years with the possibility of growth in this trend.
This has largely been driven by the rising loss severity of individual catastrophes resulting in the rise of exposures that comes alongside economic development, urbanisation, and population growth, often in areas exposed to natural hazards.
