UK economic losses from natural catastrophes hit $800m in 2024 – Swiss Re
UK economic losses caused by natural catastrophes reaching $800m (£596.6m) in 2024 has shone a spotlight on the urgent need to strengthen resilience against future events, according to Swiss Re.
Insured losses in the UK from natural catastrophes totalled $570m last year, the reinsurer calculated.
Jason Richards, Swiss Re CEO of P&C reinsurance in the UK & Ireland, said: “With the UK being a hotspot for floods and winter storms, recent events such as Storms Darragh and Eowyn should not be considered freak occurrences. History repeats and it’s not a question of if, but when, we will face the next instance of extreme weather.
This degree of fluctuation shows that the industry must be
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