Insured catastrophe losses running 18% above average
Posted On: Dec. 17, 2020 9:48 AM CST![Catastrophes](https://bicontent.businessinsurance.com/a4f2e6f2-6dc5-4b3f-a288-43a117b40a03.jpg)
Analysts at U.K.-based investment banking firm Jefferies International Ltd. said that global insured losses from catastrophes and severe weather are approximately 18% higher than the long-term average to $80 billion so far in 2020, Artemis reported. So far, the insured and reinsured losses are roughly 8% above the 10-year average, driven by the frequency of severe weather and catastrophic events.