Global natural catastrophes cost insurers $17 billion during the first quarter of 2024 with economic losses rising above $45 billion, according to Aon’s Q1 Global Catastrophe Recap – April 2024.
Q1 natural disaster losses were driven by severe convective and winter storms in the United States, as well as windstorms and flooding in Europe, and the earthquake in Japan, the Aon report said.
The global insured losses of $17 billion during Q1 were close to the average since 2000 ($16 billion) and higher than the median of $12 billion for that period. However, Aon said,