European storms, the most costly catastrophes in the first half of 2022

According to the latest report by the Cresta organization, the Dudley, Eunice and Franklin storms that hit several European countries in February 2022 are, so far, considered to be the most costly catastrophes for insurers as the sum of insured losses has reached 4.1 billion USD.

These climatic events were followed by the floods in Australia in February and the earthquake in Japan in March 2022, which respectively cost the insurance industry 3.7 billion USD and 2.3 billion USD.

According to Cresta's estimates, three other weather events, which occurred during the second quarter of 2022, could each generate losses exceeding one billion USD. These events include the deadly floods in South Africa, the storm in Canada and the bad weather in France.