Italian severe convective storm insured loss to surpass $3bn
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Italian severe convective storm insured loss to surpass $3bn

Rachel Dalton
06 November 2023
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Basilica and Abbey of Santa Giustina Padua downtown (Padova), Prato della Valle square, Veneto, Italy, Europe storm.jpg

Insured losses from severe convective storms (SCS) that devastated parts of northern Italy in July are creeping beyond earlier estimates and are likely to surpass $3bn, this publication understands.

This is the second major cat loss for the country this year, creating an expectation of additional pressure for reinsurance renewals from local cedants in 2024.

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News Claims and losses Reinsurers
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Rachel Dalton
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