Nevertheless, it will likely be more painful than the headline numbers suggest because it comes in the first quarter when (re)insurers can normally expect a low cat loss period.
Latent risk – The cat market’s inconvenient truth
![Swiss Re insured catastrophe losses to 2020 II colors v2.jpg](https://assets.euromoneydigital.com/dims4/default/008aaec/2147483647/strip/true/crop/2878x1667+0+0/resize/840x487!/quality/90/?url=http%3A%2F%2Feuromoney-brightspot.s3.amazonaws.com%2F9c%2Fff%2Febc6e82740598d4e56d9287bf068%2Fswiss-re-insured-catastrophe-losses-to-2020-ii-colors-v2.jpg)
Nevertheless, it will likely be more painful than the headline numbers suggest because it comes in the first quarter when (re)insurers can normally expect a low cat loss period.