Guy Carpenter & Company, LLC, a global risk and reinsurance specialist, today released its annual Global Catastrophe Review, which reports that insured losses in 2014 were at the lowest level seen since 2009. According to the report, significant insured losses in 2014 totaled approximately $33 billion, a dramatic drop when compared to the historic insured losses seen in 2011, which totaled approximately $126 billion.
The Americas accounted for 57% of global losses in 2014, compared to 48% in 2013, 87% in 2012 and 26% in 2011.
Man-made incidents included the explosion of an unmanned supply rocket in October in Virginia, the October crash of the Virgin Galactic spaceship in California and the Chevron Phillips refinery fire in Texas in July.
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Jayleen R. Heft
Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].
