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Insured catastrophe losses reach $118bn in 2023, with 69% protection gap: Aon

Global catastrophe losses falling to sources of insurance and reinsurance capital reached $118 billion in 2023, according to the latest estimate to emerge from broker Aon.

Aon’s insurance industry loss estimate for 2023 catastrophes compares to a slightly higher $123 billion estimate from Gallagher Re.

In December, Swiss Re had estimated overall insured natural catastrophe losses at $100 billion.

Meanwhile, in January, reinsurance firm Munich Re said that global natural disasters and severe weather are estimated to have caused the insurance and reinsurance industry losses of US $95 billion in 2023.


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