Disaster claims on insurers has fallen by more than 4,800 in the first half of the year to $16.5bn, compared to the same period last year, which could lead to cheaper reinsurance, says a report by Swiss Re. This was despite a rise of 45% of losses covered by insurance, up from the average for the past 10 years of 27%. The most expensive natural catastrophes for the industry were from thunderstorms and severe winter weather - the February storm in the US, costing insurers $1.8bn, was the largest loss to insurers from a natural disaster so far this year.
Disaster claims on insurers has fallen by nearly a third in the first half of the year to $16.5bn, compared to the same period last year, which could lead to cheaper reinsurance, says a report by Swiss Re. This was despite a rise of 45% of losses covered by insurance, up from the average for the past 10 years of 27%. The most expensive natural catastrophes for the industry were from thunderstorms and severe winter weather - the February storm in the US, costing insurers $1.8bn, was the largest loss to insurers from a natural disaster so far this year.