Experts issue warning on looming threat that could wipe out billions in property value: 'The new baseline' [Yahoo! Finance]
SWISS RE LTD S/ADR (SSREY)
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Source: Yahoo! Finance
erase billions of dollars in property value and drive up insurance costs for everyday people. According to a Bloomberg report , major investment firms are now treating floods, wildfires, heat waves, and storms as immediate threats to housing and infrastructure, rather than distant risks, as damage continues to mount worldwide. Apollo Global Management is changing how it evaluates investments to better reflect how extreme weather can affect homes, buildings, and infrastructure, Bloomberg reported . Instead of relying on broad forecasts, the firm is now taking a closer look at individual properties and projects before making deals. "Climate-driven disruptions can directly impact operating costs, supply chains, and insurance markets," Jaycee Pribulsky, Apollo's chief sustainability officer, told Bloomberg, making financial risks "more immediate." The shift comes as losses mount. Swiss Re estimated that natural catastrophes caused $107 billion in global insured losses last year, w
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News
- Why power outages do more economic damage than we think [Los Angeles Times (CA)]Los Angeles Times
- Swiss Re (OTCMKTS:SSREY) was downgraded by analysts at The Goldman Sachs Group, Inc. from a "neutral" rating to a "sell" rating.MarketBeat
- India's insurance premium growth to outpace China, US through 2030 [Yahoo! Finance]Yahoo! Finance
- Millions at risk of Los Angeles-style wildfires in Australia [Los Angeles Times (CA)]Los Angeles Times
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