This is just some of the aftermath from Hurricane Ian, a category 4 hurricane that made landfall in western Florida in late September with extreme winds, torrential rain and storm surge. Swiss Re Institute estimates it to be the second-costliest insured loss ever after Hurricane Katrina in 2005. (Photo: Ryan/Adobe Stock)
International economic losses from natural and manmade catastrophes combined were $268 billion in 2022, according to the Swiss Re Institute's annual estimates, and that figure is significantly higher than the 10-year average of $81 billion.
Insured losses were $122 billion, the reinsurer said. This was the second year in a row that estimated insured losses swelled past $100 billion. The trend in recent years has been for catastrophe losses to increase by 5% to 7% annually.
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Elana Ashanti Jefferson
Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].
