catastrophe losses

A busy August in catastrophe loss terms from severe weather activity has resulted in large US insurer Allstate reporting $748 million in pre-tax losses, which has lifted the total across the current annual aggregate risk period for its catastrophe bonds to $3.15 billion so far.

Under certain scenarios, a category 5 hurricane ploughing into Miami or Tampa Bay has the potential to drive more than US $300 billion of losses across the global insurance and reinsurance market, Swiss Re’s Institute said today, while also explaining the importance of reinsurance and ILS capital in protecting the state.

CatIQ, Canada’s insured loss and exposure index provider, has raised its insurance industry loss estimate from the severe storm outbreak that affected Saskatchewan and Manitoba in the Canadian Prairies in early June to CAD $923 million, an 8.5% increase from its second loss estimate of CAD $850 million that was issued in July.

Reinsurance broker Gallagher Re has estimated that a late August severe convective storm (SCS) and large hail outbreak across parts of western Europe will drive insurance industry losses of around EUR 2.5 billion.

According to Verisk, the global data analytics and technology provider, the insurance industry should be prepared to withstand an average $171 billion in annual natural catastrophe losses in any given year, according to the firm’s latest average annual losses (AAL) benchmark.

A wave of severe convective storms that swept across Germany, France, Switzerland, and Italy in Europe between 13th and 19th July 2026 are estimated to have caused an insurance industry loss of EUR 2.186 billion, according to catastrophe data aggregator PERILS AG.

A busy July in catastrophe loss terms from severe weather activity has resulted in US insurer Allstate reporting $682 million in pre-tax losses, which has lifted the total across the current annual aggregate risk period for its catastrophe bonds to $2.402 billion so far.

CatIQ, Canada’s insured loss and exposure index provider, has raised its insurance industry loss estimate from the severe thunderstorm event that affected parts of southern Ontario and southern Quebec, between June 30th and July 3rd, 2026, to CAD $439 million, a 17.5% increase from the firm’s initial loss estimate of $374 million.

According to reinsurance broker Gallagher Re, year-to-date industry losses from US severe convective storms in 2026 have accelerated and climbed above $35 billion, as the peril’s quieter start to the opening months of the year have since given way to prolific activity.

Catastrophe data aggregator PERILS has published its third industry loss estimate for extratropical windstorm Nils, also known as “Ulrike”, that struck the Nouvelle-Aquitaine and Occitanie regions in southwest France in mid-February, placing the insurance market loss at €695 million, a notable decline from its second estimate that was published in May.