First half insured cat losses lowest in 13 years

Source: Business Insurance

July 24, 2019 U.K.-based insurance broker Aon P.L.C. said that insurers and reinsurers recorded $20 billion in catastrophe losses worldwide in the first half of this year, the lowest level of losses since 2006, reports. The insurance broker said that the catastrophes caused $73 billion in economic losses in the first half. Europe, Australia and the United States accounted for most of the insured losses with severe storms’ insurance tab totaling $12 billion.