Global property and casualty insurers experienced “alarming” underwriting losses in 2022 as natural catastrophes increased and risk models failed to keep up, a report from consultants Capgemini said on Wednesday.
Global insured losses from natural catastrophes have been surpassing $100 billion annually in recent years, and have been driven higher by issues such as winter storms. Industry sources see factors such as increased building in high-risk areas as contributing to the losses.
