Insured Disaster Losses To Again Top $100 Bn: Swiss Re

The United States has experineced 18 severe thunderstorm events that caused more than $1 billion in insured damages this year (Credit: AFP)

Insured losses from natural catastrophes will pass the $100-billion threshold for the fourth year running in 2023, reinsurance giant Swiss Re said Thursday.

Insured losses from severe thunderstorms reached an all-time high of $60 billion in 2023, while the February earthquake in Turkey and Syria was the costliest natural catastrophe to date for the year, it said.