Weather & Science
Thunderstorms Caused Record $60 Billion in Insured Losses in 2023
Fierce storms, especially in the US, were responsible for more than half of the world’s insured catastrophe losses this year, according to the Swiss Re Institute.
A family visits their destroyed home following a tornado in Rolling Fork, Mississippi, in March.
Photographer: Rory Doyle/BloombergThis article is for subscribers only.
The US only saw one hurricane landfall this year, but it wasn’t spared a battering from extreme weather.
A dramatic rise in severe thunderstorms globally, but particularly along Tornado Alley in the US, cost insurers a record $60 billion and drove total global insured losses over $100 billion for the fourth year running, according to an analysis by the Swiss Re Institute, the research arm of reinsurance giant Swiss Re AG.