Global Property Insurers See ‘Alarming’ Losses as Risk Models Lag, Report Says

Don Ma
By Don Ma
April 17, 2024NTD Good Morning

Global property and casualty insurers experienced “alarming” underwriting losses in 2022 as natural catastrophes increased and risk models failed to keep up, a report from consultants Capgemini said on Wednesday.

Global insured losses from natural catastrophes have been surpassing $100 billion annually in recent years, and have been driven higher by issues such as winter storms. Industry sources see factors such as increased building in high-risk areas as contributing to the losses.

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