The CRESTA organisation, which tracks catastrophe events outside the United States that have generated insurance industry losses of over US $1 billion, has reported the 2024 annual total as reaching US $18.2 billion, of which 78% came from flood events.
Aggregate insured losses from non-US catastrophe loss events came in slightly below the long-term average of $19.9 billion, CRESTA explained.
The organisation calls 2024 “the year of the floods”, where as the prior year was characterised by losses from severe convective storms.
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