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Insurers face challenge of defining their own view on nat cat risks: Aon’s Shedden

April 21, 2023

Aon Reinsurance Solutions’ Global Head of Analytics, Paul Shedden, stated that insurers are faced with the primary challenge of defining their own view on natural catastrophe risks amidst the escalating volatility of such events.

“2022 was another big year for catastrophe losses. Insured losses totalled $132 billion in 2022, 57% above the 21st century average, and the third consecutive year in which global insured losses surpassed $100 billion,” Shedden said in a report named “Climate uncertainty calls for custom view of risk” on LinkedIn.

Shedden added: “It was also the sixth consecutive year of above average catastrophe losses, resulting in a cumulative $794 billion in natural catastrophe losses since 2017.”

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