As ever, Swiss Re’s sigma team produce interesting reading. They do an annual review of how the year has gone in different sectors, and this year’s on the international property field [no direct link, but click on the first of the 'News Releases'] is worth a read.
It’s been a very mild year for insurers – covered losses of only $15bn compared to over $65bn last year – which rather confounds the views of the pundits earlier in the year. In fact, 2006 has been the third-lowest insured loss year in the the last 20, mostly caused by a mild hurricane season, in turn apparently caused by El Nino.
Which is nice.
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