Global Catastrophe Recap: 1H 2024
Insured losses from natural disasters have reached $58 billion so far in 2024, above the $39B average, and driven by severe convective storms (SCS) in U.S. and Europe, as well as flooding in Germany, the Middle East and Brazil.
While global economic losses of $117B were lower than the last three years, the outlook is marked by a potentially costly hurricane season and continuing convective storms in the United States and Europe. The insurance protection gap is estimated at only 50 percent, one of the lowest on record.