Global Cat Losses Down in 2014
Total insured catastrophe losses in 2014 were $33 billion, down from $40 billion in 2013 and $126 billion in 2011, according to Guy Carpenter & Co. LLC's annual "Global Catastrophe Review." Insured catastrophe losses for 2014 were the lowest since 2009. About 57 percent of global losses occurred in the Americas, up from 48 percent in 2013, according to the report. Many of those losses were from hurricanes, winter weather, earthquakes and thunderstorms. About 23 percent of the insured losses occurred in Asia and Australasia, thanks to two large snowstorms in Japan that caused about $3.1 billion in damages.