Markets & Trends
According to a natural disaster review for first half of 2022 released by global reinsure Munich Re, the period January-June 2022 saw lower natural disaster losses than in the comparative period of 2021. "Floods, earthquakes, and storms caused overall losses of some USD 65 billion compared with USD 105 billion in the loss-heavy previous year. At around USD 34 billion, insured losses were roughly in line with previous years".
The increased influence of climate change suggests that, in what regards floods, what is considered a 1-in-100-year event (1% chance of occurring at a location in any given year) today may becoming a 1-in-75 or 1-in-50-year event in the future, Aon's recently released "Real-Time Climate Change" report shows.