Catastrophe loss activity already above annual average this year

Insurance industry organization Cresta said this year’s international catastrophe loss activity has already surpassed the average mark, with the insurance industry shouldering six $1 billion-plus major catastrophe events in the first half of the year, Reinsurance News reported. The mid-February European windstorm series, Eastern Australia floods during February and March, Japan’s 7.3-magnitude earthquake in March, KwaZulu Natal floods in South Africa in April and two severe convective storms in France and nearby countries in June are the major natural disasters that struck in the first half of the year.