About $US111 trillion ($171 trillion) of property assets are insured for natural perils exposure worldwide, according to an industry database.

Swiss catastrophe data group Perils’ 2024 exposure database provides information about property market sums insured exposed to natural perils in 21 major markets including Australia and New Zealand.

Perils says the impact of inflation on exposures continues to be visible in the database, with sums insured for European windstorm increasing an annual 10.1%.

It says across all markets, exposure growth is 11.7% year-on-year in US dollar terms.

“The effects of the inflationary environment of the past few years faced by the insurance industry were still very evident. This is because inflation adjustments take time to be fully reflected in the individual portfolios of insurers,” CEO Christoph Oehy said.

“In addition, real growth and reassessment of exposures after loss events have clearly had an impact. Furthermore, we observe a general increase in insurance penetration in countries affected by major loss events.”