GLRE - Swiss Re Warns Of USD 250-300 Billion Insured Catastrophe Loss Year Potential
- The reinsurance firm warns that the global industry may not be far off a USD 250 billion to USD 300 billion industry loss year when it experiences a peak-loss inducing hurricane season and multiple secondary peril events in the same calendar period.
- Natural catastrophe events accounted for USD 81 billion of this, but drove global economic impacts of USD 190 billion.
- Swiss Re believes that on top of the rising losses from secondary perils, the same risk trends are also affecting primary perils, leading to a forecast for far higher loss years now being possible.
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Swiss Re Warns Of USD 250-300 Billion Insured Catastrophe Loss Year Potential