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2023 sets new record for billion dollar insured catastrophe loss events: Aon

October 20, 2023

Across the first nine months of 2023 analysis from insurance and reinsurance broker Aon suggests there have already been 32 billion dollar insured catastrophe loss events, setting a new record, while severe convective storms (SCS) had driven over $60 billion of insured losses by end of September.

Severe convective storm (SCS) activity, particularly in the United States, has been responsible for the majority of insured losses from weather and catastrophe events around the globe, in 2023 so far.

SCS events account for roughly 70% of the US $88 billion in insured catastrophe losses that Aon estimates have occurred so far.

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