(Bloomberg) — Costs from natural catastrophes fell last year to the lowest level since 2009 as the weather effect known as El Nino reduced heavy storms in the North Atlantic, according to Munich Re, the world's largest reinsurer.
Global losses declined to $90 billion from $110 billion a year earlier, the company said in a statement from Munich on Monday. Insured losses slipped to $27 billion from $31 billion over the period.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
