Munich Re has actually reported a boost in the frequency and strength of natural disasters worldwide, and especially in Europe.
In Between January and September 2023, the German group tape-recorded 7 natural catastrophes in Europe. Insured losses went beyond the 1 billion EUR (1.1 billion USD) mark per occasion.
These occasions consist of:
- earthquakes in Turkey and Syria (February)
- floods in north-east Italy and neighbouring nations (Might)
- storms Kai and Lambert in Germany (June)
- storm Unai in Italy, Slovenia and Croatia (July)
- flooding in Slovenia, Austria and Croatia (August)
- storm Hans in northern Europe (August)
- Storm Denis in Germany (late August)
Aside from natural disasters, the insurance coverage market is likewise confronted with other growing dangers, such as inflation, growing civil discontent and a rise in cyberattacks.