Insurers suffered record losses due to natural disasters in the first quarter
In the first quarter, natural catastrophes caused a global insurance industry of losses in the amount of $ 53 billion. Such data is provided by the AON International Insurance Broker in the quarterly report “Global Disaster Review for the First Quarter”.
According to the Internet resource of Ukrstka with reference to the AON report, the result of the first quarter is much higher than the average of the first quarter of the XXI century $ 17 billion and ranks second after the record first quarter of 2011.
The most unprofitable event of a natural catastrophic nature was forest fires in California with $ 38 billion insured losses, which corresponds to 71% of total losses per quarter.
“Forest fires in California have damaged or destroyed more than 18,000 buildings and have become one of the most expensive forest fires in history,” the AON report reads. Other events that took place in the first quarter are “a few strong convective storms in the United States, an earthquake on the Tibet Plateau in January and a deadly earthquake in Myanmar and Thailand, where the consequences are still evaluated.”
According to AON, the insurance gap is 36%, which has been the lowest in the period since 1990 (47%). It is a high level of penetration of US insurance, where most unprofitable events occurred.