"The effects of climate change can already be seen in certain perils like heatwaves, droughts, floods and extreme precipitation," Jérôme Jean Haegeli, Swiss Re's Group Chief Economist, said in the report.
"The above‑average losses reaffirm a 5–7% annual growth trend in insured losses, driven by a warming climate but even more so, by rapidly growing economic values in urbanized settings, globally," Martin Bertogg, Head of Catastrophe Perils at Swiss Re, said.
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