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ZURICH—Hurricane Ian and other natural catastrophes have caused an estimated $115 billion of insured losses so far this year, well above the 10-year average of $81 billion, Swiss Re estimated on Thursday.
Natural and man-made disasters did economic damage of $268 billion, of which $122 billion was covered by insurance, making 2022 one of the most expensive yet for the sector, it said.
Ian, a category-4 hurricane which struck Florida in September, was the single largest loss-causing event of the year to date, with an estimated insured loss of $50–65 billion. That would put it second only to Hurricane Katrina in 2005.
Swiss Re said that 2022 was the second consecutive year in which estimated insured losses surpassed $100 billion, in line with a 5–7 percent average annual increase over the past decade....