The global insurance and reinsurance industry faced $111 billion of natural catastrophe losses in 2021, according to Swiss Re, which is a 6% increase on its $105 billion estimate from December.
Global economic losses from natural catastrophes are estimated at $270 billion, making the protection gap significant again as just 41% of economic losses were covered by insurance and reinsurance, Swiss Re’s latest sigma report shows.
FULL ORIGINAL PUBLICATION HERE
