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AGCS identified the top causes of loss and emerging trends from more than 11,000 major business claims in 148 countries in its "Global Claims Review 2014." The data reflects claims in which AGCS has been involved between 2009 and 2013 and that were above €100,000 ($136,455). According to the report, using industrywide data, the 20 largest losses reported across the insurance industry in 2013 totaled approximately €5.9 billion ($8.1 billion), excluding those caused by natural catastrophes. Oil and gas industry incidents accounted for 40 percent of the 2013 major losses, while fire and/or explosion was responsible for eight of the top 20 losses or, at approximately €2.9 billion ($4 billion) — nearly half of the total loss bill. So far in 2014, AGCS noted that 80 percent of the major reported losses came from aviation incidents or fires, particularly in the energy sector with the largest loss — a fire at a Siberian refinery complex in June — reported to be around €586 million ($800 million).


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