From January to June, the global average temperature was roughly 1.5°C higher than the pre-industrial level. Not only were average temperatures unusually high nearly everywhere in the world in the first half-year; record-breaking highs were also reported around the globe. The recent losses caused by natural disasters in Africa underscore the need for the insurance industry to address climate change. Building on over five decades of experience and our wealth of data, we draw attention to some aspects that insurers should consider when managing these risks.
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