Global Insured Catastrophe Losses Estimated At $112 Bln In FY21

Global insured catastrophe losses in the year 2021 is expected to rise to $112 billion, the fourth highest on record, with Hurricane Ida being the main loss-making event, according to an estimate by Swiss Re Institute. Going ahead, it is expected that natural catastrophe losses would continue to grow more than global GDP, with increases in wealth, urbanization and climate change.

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