As more insurers begin to make second-quarter loss estimates from tornado-spawning storms that ravaged parts of the U.S. in April and May, Aon Benfield says insured losses for the two months are nearly triple the annual average over the last 20 years.
Losses from the thunderstorms in the two-month span reached about $15 billion, says Aon Benfield, the global reinsurance intermediary of Aon Corp. Economic losses stand at an estimated $21.65 billion.
A new report from the firm breaks down the severe weather events into eight timeframes, five of which were billion-dollar-plus catastrophes.
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