European markets are heading for a mixed open as global investors digest Donald Trump's presidential election win and political upheaval in Germany.
Climate change prevention is becoming far more significant for insurance companies as they face rising losses from destructive weather events, such as hurricanes and floods. Zurich Insurance Group's Chief Financial Officer Claudia Cordioli told CNBC that the insurer had seen 'very severe cat and weather losses, not only in the U.S., but also in Europe this year.' Hurricanes Helene and Milton that ravaged the U.S.
in early fall, along with other severe weather events such as the floods that hit Central Europe and Spain, have brought the loss impact within the industry 'to a considerable level,' she said Thursday. 'And if you think that over the last seven to nine years, have brought to insurers more than $100 billion of losses . It gives a sense of the magnitude of the weather and climate topic for the insurance industry,' she added.
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