Almost three months ago we passed a remarkable record in catastrophe loss.
And yet no one seems to want to celebrate it.
No banner headlines in the newspapers. No speeches at the Monte Carlo Reinsurance Rendezvous.
The first half of 2019 generated the lowest catastrophe insurance loss for more than a decade. The estimates come in at: US$15 billion (Munich Re), US$19 billion (Sigma), or US$20 billion (Aon). In straight dollar terms, independent of any adjustment for inflation or exposure, this is lower than any year since 2006.Continue reading