In this report, we summarize preliminary global loss totals and major catastrophe events that occurred during the first three months of the year.

An active start to 2023 resulted in above average natural catastrophe losses around the world. The predominant driver was record-setting Q1 thunderstorm losses in the United States and a series of powerful February earthquakes that led to devastating impacts and a humanitarian crisis in Turkey and Syria.

Readers of this report can expect to:

  • Explore the continued impact of inflation on cat loss performance
  • Review major Q1 events and overall financial loss perspective
  • Better understand the role of climate change and ENSO influence on future event