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

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.