Reinsurance industry results analysis

According to the AON 2023 Weather, Climate, and Catastrophe Insight report1, the Kwa-Zulu Natal floods experienced in April 2022 were identified as one of the deadliest and costliest flood events on record in South Africa. It is estimated that USD3.6 billion in economic losses and USD1.8 billion in insured losses were experienced and that there were 455 fatalities.

This event was also listed in the top ten global human fatality events related to natural catastrophe events for 2022