Insured cat losses run 101% above average after Hurricane Ida

Analysts at investment banking firm Jefferies International Ltd. estimate that global insured and reinsured catastrophe losses are running 101% above the long-term average after losses from the deadly category 4 Hurricane Ida that struck southeastern U.S. in late August, Reinsurance News reported. The losses after August indicate a sharp rise from the July figures when insured cat losses ran above 41% above the long-term average, thus reflecting the impact of Hurricane Ida.