The magnitude 6.2 earthquake that struck Italys Umbria region this week is estimated to have cost the country anywhere from $1 billion to $11 billion in economy-related losses. The insurance bill will be a lot lower.
This past year, the worlds largest companies, including 18 property and casualty insurance companies, saw cumulative sales decline for the first time since 2010.
This year's Swiss Re SONAR report offers insights into emerging risks such as human-induced earthquakes, mass migration and turmoil in emerging markets.
Natural catastrophes continue to be responsible for the majority of insured and economic losses around the world, but man-made disasters also are having a significant effect.
Merger and acquisition activity in the insurance industry is increasing, although the number of deals still remains well below levels seen before the financial crisis.