Record heatwaves in June and July caused the deaths of 1,435 people in France this year, according to the country’s health minister.
BBC 8th Sept 2019 read more »
According to Munich Re, 2017 and 2018 were the worst two-year period for natural catastrophes on record, with insured losses of $225bn. Climate change seems to be making hurricanes more severe and sparking more wildfires. The insurance industry looks like it has ample capacity to cope. Over the past 10 years, insurance and reinsurance companies have been joined by new forms of capital, as pension funds and other investors have sought out sources of higher returns than are available in traditional bond markets in the ongoing environment of ultra-low interest rates. Many funds now have a 3 per cent asset allocation to the sector. But there are signs that worsening climate change risks may be scaring off the new money.
FT 9th Sept 2019 read more »