The US P&C insurance industry has experienced challenges in recent years due, in large part, to increases in the frequency and severity of natural catastrophes
Climate risk has once again been the catalyst for insurance and reinsurance market change. Major losses caused by extreme weather events in recent years
2023 will be a difficult year for the US P&C industry: claims severities surged with inflation, natural catastrophe losses were elevated for a sixth straight year
Weather-related Events drove economic losses of $65 bn, which is down on last year’s $105 bn, with insured losses staying roughly the same at approximately $34 bn