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Flood losses are rising rapidly as economic activity continues to concentrate in high-risk areas.Floods are Europe’s most frequent and costliest natural hazard, with total economic losses climbing steadily, to EUR226bn in the first quarter of this century.
As the Middle East conflict de-escalates – despite temporary flare-ups – we expect only a mild slowdown in global growth in 2026 to +2.5%, followed by a rebound to +2.9% in 2027, broadly in line with our previous baseline outlook.