Global insured losses from natural catastrophes rose to $50 billion in the first half of 2023, driven by claims in the United States after a series of thunderstorms, a report from reinsurer Swiss Re on Wednesday showed.
Fallen trees obstruct a road after ice storms and freezing rain in the south of Texas left thousands without power and turned roadways into ice rinks during an extreme cold weather period in San Antonio, Texas, U.S., February 2, 2023. REUTERS/Kaylee Greenlee Beal/File PhotoTexas the most-affected state
Within the United States, 10 events caused losses of at least $1 billion, compared with an annual average of six such events over the previous ten years, Swiss Re said, with the most affected state being Texas. "With severe thunderstorms as the main driver for above-average insured losses in the first half of 2023, this secondary peril becomes one of the dominant global drivers of insured losses," Martin Bertogg, Head of Catastrophe Perils at Swiss Re, said.
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