“The magnitude of insured losses in 2022 is not a story of exceptional natural hazards, but rather a picture of growing property exposure, accentuated by exceptional inflation,” said Martin Bertogg, head of catastrophe perils at Swiss Re. “While inflation may subside, increasing value concentration in areas vulnerable to natural catastrophes remains a key driver for increasing losses. For our industry, this is a call both to reflect the latest exposure even more carefully in risk assessments while continuing to support society in being better prepared.”
Impacts of inflation
As disasters like Hurricane Ian in Florida and flooding in Australia and
