Up to $7bn May storm losses reinforce SCS reclassification need: Gallagher Re

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Reinsurance News - May 23, 2025

With a preliminary insured loss estimate ranging from $4 billion to $7 billion for the severe weather events across the U.S. between May 14 and 20, Gallagher Re’s Chief Science Officer and Meteorologist, Steve Bowen, has argued that it’s well beyond time to abandon the semantic classific...

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