Munich Re has revised its estimate for total insured market loss from Katrina to a figure up to $30bn.
The company said that this figure does not include the flood and storm-surge losses covered under the National Flood Insurance Program.
Munich Re said that based on this estimate its own loss could be in the region of €1.1bn gross. In the case of a higher insured market loss, which other institutions estimate to be up to $60bn, there could be a gross loss burden of some €1.3bn.
Munich Re put its insured market loss from Hurricane Rita at $5bn–10bn. For the Munich Re Group, the gross loss to be expected from this would be of up to €230m.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
