The CRESTA organisation, that tracks international insurance industry losses outside the United States, has estimated the full-year 2023 loss at US $16.7 billion, which it notes is slightly below the annual average.
This figure only included insured catastrophe loss events from a threshold of US $1 billion and Cresta highlights that there are other events which could reach that level, should loss development persist.
Those are severe convective storms that occurred in Germany in mid-June 2023 and severe convective storms that impacted Eastern Australia in late December.
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