Figure 2: Severity and frequency of NatCat events

Insured losses rising faster than number of events

Number of events

Low Severity(0–1 bn)

High Severity (above 1 bn)

Annual average number of events

Insured losses in USD billion, at 2022 prices

Low Severity(0–1 bn)

High Severity (above 1 bn)

Annual average insured loss in USD billion

1983–1992

1993–2002

2003–2012

2013–2022

Source: Swiss Re