Nat cat insured losses dip to $118m in ‘23, convective storms stack up

Insurers took a bill for $118 billion in insured losses from global natural disasters in 2023, “well above” the 21st century average of $90 billion on the strength of severe convective storms, but still lower than the more recent average as no headline event pumped the tally, analysts at global insurance brokerage Aon have calculated.