Aon Holdings Japan Co., Ltd.
Number of disasters exceeding USD 1 billion to reach record high in 2023: Aon Report
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Annual Climate and Catastrophe Report shows economic losses from large-scale natural disasters reached USD 380 billion in 2023 ・Insured losses were USD 118 billion, with a protection gap of 69%. ・95,000 people died from disasters, the worst year since 2010 Note: This release is a translation of a press release issued by Aon plc on January 23, 2024 local time in the United Kingdom (London) for the Japanese press. For the English press release, please see here
(https://aon.mediaroom.com/2024-01-23-Number-of-Billion-Dollar-Disasters-in-2023-Highest-on-Record-Aon-Report) please. The official language of this document is English, and the English press release will take precedence for its content and interpretation.
January 23, 2024 — Aon plc (https://www.aon.com/en/) (NYSE: AON), a leading provider of a wide range of specialized solutions, today announced that Report 2024
(https://assets.aon.com/-/media/files/aon/reports/2024/climate-and-catastrophe-insights-report.pdf) (2024 Climate and Catastrophe Insight report) has been published. This report analyzes trends in natural disasters and climate change around the world, with the aim of supporting valuable decisions to reduce volatility and improve broader resilience.
The report shows that in 2023, there were 398 major natural disasters worldwide, resulting in economic losses of USD 380 billion (2022 actual: USD 355 billion). This is 22% higher than the 21st century average and is largely due to severe earthquakes and severe convective storms (SCS) in the United States and Europe.
Global insured losses in 2023 exceeded USD 100 billion for the fourth consecutive year, 31% above the 21st century average. Insured losses amounted to $118 billion ($151 billion in 2022), accounting for 31% of economic losses, and the “protection gap” amounted to 69% (58% in 2022). This shows that there is an urgent need to increase the penetration of insurance coverage.
Regarding natural disasters in 2023, the number of large-scale natural disasters per disaster reached a record high, with 66 cases resulting in economic losses exceeding US$1 billion and 37 cases causing insured losses exceeding US$1 billion. The disaster with the greatest economic loss is an earthquake, but the disaster with the highest insured loss is a convective storm. Weather-related insured losses hit record highs in New Zealand, Italy, Greece, Slovenia and Croatia.
The report also states that in 2023, 95,000 people worldwide will lose their lives due to large-scale natural disasters. This was the highest number since 2010, and many of them were caused by earthquakes and heat waves. From the perspective of climate change, 2023 will be a year of “unprecedented abnormal temperatures” and the hottest year on record. Record-high temperatures were observed in 24 countries and regions around the world.
“At a time of rapidly increasing volatility and complexity,
organizations need to strengthen their resilience to the climate and catastrophe risks highlighted in this report,” said Greg Case, CEO of Aon. Through close collaboration with the public and private sectors, Aon is working to accelerate innovation, improve protection for underserved communities, and mitigate the economic impact of extreme weather events. We aim to ensure that these efforts drive more sustainable outcomes for businesses and communities around the world.” Andy Marcel, CEO of Risk Capital and Reinsurance, added: ), companies should use forward-looking diagnostics, which includes future risks, to analyze climate trends, reduce risks, and protect their employees. Corporate risk managers are leveraging an ever-evolving range of advanced tools and leveraging analytics technology to make better choices with their capital.Insurers are doing the same. , they can play an important role in strengthening the financial resilience of the communities they serve by narrowing the protection gap by offering new and better products.”
In order to curb global warming, investors can view climate change from the following three perspectives. Protecting your portfolio from financial risk, benefiting from growth opportunities in climate solutions, and playing your role in a world that is making a positive impact on climate change and moving towards net zero. It is about thinking about and making decisions about what we should do to fulfill our goals.
“This report shows how different communities are exposed to different vulnerabilities in the event of a disaster,” said Michael Rorink, head of Catastrophe Insights at Aon. This highlighted the issue of lack of cover (lack of cover) and the importance of ensuring compliance with regulations and building codes.Furthermore, floods that killed many people in Libya and India highlighted the importance of proper maintenance of infrastructure. “It became clear that Hawaii’s wildfires require reliable warning and forecasting systems.” Top 10 global economic losses in 2023
[Image: https://prtimes.jp/i/119763/8/resize/d119763-8-8d364e98f8b9ca26e9de-0.jpg&s3=119763-8-4f7a953f07b44d92f79c2c1eeb53a4c0-1328×635.jpg] The 2024 Climate and Catastrophe Insight report can be viewed below. https://aon.io/2024-cci-report
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Press contact information
Saito/Tateno
pr.japan@aon.com
03 4589 4430
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The information contained in this document is for general guidance and information purposes only and is not intended to address the circumstances of any particular person or entity. While Aon strives to provide accurate and timely information and uses reliable sources, Aon does not guarantee the accuracy, adequacy, completeness, or fitness for any purpose of the contents of this document. , does not make any representations or financial guarantees, and assumes no responsibility for any loss suffered in any way in reliance on this document. Furthermore, we do not guarantee the accuracy of the information contained in this document at the time of receipt or in the future. Any person or entity should seek appropriate professional advice and conduct their own investigation before acting on any such information. More details about this release:
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