Canada faced record insured catastrophe losses of CAD 8.5 billion in 2024, surpassing the previous high of CAD 6.2 billion in 2016. The year saw over 273,000 claims due to twelve significant events, including a devastating Calgary Hailstorm that alone caused CAD 2.8 billion in damages. Despite these challenges, TD Insurance launched a CAD 150 million catastrophe bond focused on natural hazards, signaling a resilient insurance market. Source and details of the news