2021 catastrophe losses released

An Insurance Business Magazine article.

Extreme weather events in 2021 – including a deep winter freeze, severe thunderstorms, floods, heatwaves and a major hurricane – resulted in annual insured losses from natural catastrophes of an estimated US$105 billion (around NZ$155.59 billion), according to a new report from the Swiss Re Institute. That’s the fourth-highest loss since 1970.

While Hurricane Ida was the costliest natural disaster in 2021, winter storm Uri and other secondary perils caused more than half of the total losses. Man-made disasters caused another US$7 billion in insured losses, resulting in estimated global insured losses of US$112 billion in 2021.

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