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Insured losses from cat events hit $7 billion: JP Morgan

Posted On: Jan. 23, 2023 9:28 AM CST



U.S.-based J.P. Morgan Chase & Co. said that global natural catastrophe events caused an estimated $7 billion in insured losses in the fourth quarter of 2022, lower than the average losses in the fourth quarter during the 2017-2021 period, Reinsurance News reported. The figure mainly reflects the impacts of Hurricane Nicole and Winter Storm Elliott, which were two large natural catastrophes in North America.