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"Although the year had fewer extreme global loss events, 2023 was characterized by a high number of locally significant events. Collectively, they resulted in estimated insured losses near the recent five-year average and above the recent 10-year average, according to preliminary market estimates. According to Munich Re and Swiss Re, estimated insured losses in 2023 totaled US$95 billion and US$108 billion, respectively; for the latter, this marks the fourth consecutive year losses surpassed US$100 billion. The losses of the last seven years, with an average of more than US$100 billion per year, continue to pose significant challenges to understanding, managing, and pricing future weather-related risks."
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2023 saw the fourth-most-active season on record, after 2020 (30 storms), 2005 (28 storms), and 2021 (21 storms).
Despite the high number of named storms, in many ways the season was rather average.
While not as catastrophic or costly as 2021 with Ida or 2022 with Ian, 2023 will probably be best remembered for Hurricane Idalia.
The total of 16 storms was well below the long-term climatological average of 26 storms.
2023 had the fewest observed storms since 2010 (14 storms) and tied with 1998 for the second-fewest storms since recordkeeping began in 1951.
The year will be long remembered for the multiple destructive hurricanes on the western coast of Mexico, most notably Major Hurricane Otis — a Category 5 major hurricane near Acapulco in Guerrero state on October 25. It was the first Category 5 major hurricane to make landfall on the west coast of Mexico since recordkeeping began.
Australia had its strongest landfalling cyclone in eight years — Ilsa. While the region experienced below the long-term average of 11 storms, an unusually high proportion of storms achieved extreme intensities. There were three Category 5 tropical cyclones: Darian, Herman, and Ilsa.
Freddy tracked across the Indian Ocean for more than five weeks to become the longest-lasting and highest accumulated cyclone energy-producing tropical cyclone on record. Approximately 90% of Sittwe, Myanmar, was destroyed in Extremely Severe Cyclonic Storm Mocha.
Severe Cyclonic Storm Biparjoy caused widespread disruption to infrastructure across India’s western state of Gujarat.
Download the comprehensive 2023 catastrophe review report today to gain in-depth insights into key trends, risk analyses, and actionable strategies for navigating the evolving catastrophe landscape.
