In 2023, the global insurance resilience remained stable at 58%, reflecting an increasing recognition of the importance of insurance protection following various natural catastrophes, crop, health, and mortality events. Swiss Re noted that there was a notable 3.1% rise in the protection gap, which now stands at $1.83 trillion, indicating that a significant portion of disaster exposure remains uninsured. Specifically, insurance resilience for natural catastrophes improved to 25.7%, but a considerable 75% of global exposure lacks coverage. The reinsurer highlighted a growing divide between advanced markets, where resilience improved to over 38%, and emerging markets, where coverage remains critically low.
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