Convective storm losses of $37bn may reignite reinsurers’ secondary peril pushback

25 July 2023

Reporting season for Q2 has only just got underway in the US, but an initial theme has been the $37bn insured losses posted so far in 2023 from an active season of convective storms – an issue that will rumble across the Atlantic as US carriers and their reinsurers line up schedules for the upcoming conference season.

The numbers are astonishing in terms of the activity that has occurred, with far fewer headlines than a major hurricane would have drawn.

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