Counting the cost of 2011…
With global reinsurers' and brokers' insured loss estimates for 2011 natural catastrophes ranging from $100bn to $106bn, last year looks set to outstrip 2005's record losses of $101bn, brought on by the combined fury of hurricanes Katrina, Rita and Wilma.
Unsurprisingly, the shattering earthquakes that hit Japan and New Zealand in the first quarter of 2011 went a long way towards achieving this sobering statistic. Between them, the March Tohoku earthquake and tsunami and February's Christchurch quake contribute almost half...
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