Losses of world insurers from natural catastrophes in January-September amounted to $105 billion, according to the report of reinsurance broker Gallagher Re. This is below the average for this period for the last ten years, which is $114 billion.
Insurance losses have exceeded the $100 billion mark for the previous five consecutive years. They were also above that level in 2017 and 2018 and dipped just below that mark in 2019 ($98 billion).
The January fires in Los Angeles caused the largest losses at $40 billion, with damage from the Myanmar earthquake in March estimated at $1.7 billion and summer flooding in China at $0.4 billion.
The U.S. accounted for about 86% of global losses in January-September, the report said.
