(Source: Swiss Re Institute): Swiss Re said natural and man-made disasters would cost the insurance industry about $79bn in 2018, the fourth highest loss in its records. The company also warned that a “significant number of insured entities will be unable to pay their claims” for 2018. It estimated total economic losses from catastrophes would be $155m, again with natural disasters taking the largest share at $146bn. Swiss Re said no single event had caused any significant impact but most of the events, including US hurricanes, Japanese typhoons and the California wildfires, had been in H2.
Swiss Re said natural and man-made disasters would cost the insurance industry about $79bn in 2018, the fourth highest loss in its records. The company also warned that a “significant number of insured entities will be unable to pay their claims” for 2018. It estimated total economic losses from catastrophes would be $155m, again with natural disasters taking the largest share at $146bn. Swiss Re said no single event had caused any significant impact but most of the events, including US hurricanes, Japanese typhoons and the California wildfires, had been in H2.