Munich Re: Climate Change showing its “claws” in one of costliest nat cat years on record

The German reinsurer Munich Re has released its summary of natural catastrophes in 2024 and said that the nat cat balance sheet in 2024 was “a loss-heavy year for insurers”.

There were insured losses of $140 billion - which only two years since 1980 have been more expensive so far.

The growing nat cat loss burden could see more in the re/insurance sector assess their risk and exposure, which could affect their investment strategies.

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