Natural disaster insurance claims set to top €92bn

Natural catastrophe insured losses were $125bn in 2022, compared with an average cost of $81bn over the past 10 years and $110bn over the last five

Aleppo in Syria was hit by a devastating earthquake

Claims for weather-related incidents are set to exceed $100bn (€92bn) for the third year in a row, as floods, hail and wildfires linked to climate change become more frequent.

Munich Re has put the total global insured costs of natural catastrophe events in the first half of 2023 at $43bn, while Swiss Re has pegged it at $50bn, according to a report by Bloomberg Intelligence.