Destroyed buildings after the earthquake in Turkey earlier this year. The series of quakes, which also hit Syria, were the most damaging catastrophes during 2023's first half. Credit: Abdulkadir/Adobe Stock Destroyed buildings after the earthquake in Turkey earlier this year. The series of quakes, which also hit Syria, were the most damaging catastrophes during 2023's first half. Credit: Abdulkadir/Adobe Stock

During the first six months of 2023, global insured losses reached $53 billion, according to Aon, which reported this was the fourth-highest first half total on record and around 46% above the 21st-century average.

Severe convective storms (SCS) were the leading driver of insured losses during the period, Aon reported, accounting for $37 billion of those covered losses globally. More than 95% of SCS losses came from the U.S., which saw at least $40 billion in insured losses during the period.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

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