Global covid-19-related insurance losses $29bn and growing

The running total of global covid-19 related losses, reserves and estimates reported by insurers and reinsurers to Zurich-based financial services advisory PeriStrat LLC, were $US20.75bn ($A29bn) as of July 28, according to Reinsurance News.

Sister publication Artemis said the figure appeared “very low and losses will rise as the impacts become clearer over the coming months.” It said consensus “would suggest” losses would be closer to about $US50-70bn.

The estimate reported for Lloyd’s topped PeriStrat’s list at $US3.65bn; followed by property insurer FM Global ($US3bn); Swiss Re ($US2.5bn); Axa ($US1.7bn); Munich Re ($US1.66bn); Chubb ($US1.4bn); Zurich ($US).75bn; Allianz ($US0.72bn); Scor ($US0.53bn); QBE ($US0.34bn); and Markel ($US0.32bn).