Catastrophes drive higher insured and economic losses in H1
Friday, 08 19 2016, Category: Nature, Country: World
Economic losses from natural and man-made catastrophe events in the first-half of 2016 totalled an estimated $71 billion, of which $31 billion, or roughly 44% was insured, an increase of 51% compared to the prior year, says reinsurance giant Swiss Re.
Natural disasters made up the majority of both economic and insured losses, while the number of lives lost in the period fell by 50% on H1 2015.
Global reinsurer Swiss Re has released its preliminary sigma loss estimates for H1 2016 man-made and natural catastrophe events, which shows that the $31 billion of insured losses in the period is actually $1 billion higher than the ten-year average.