Cats drive losses in 2018 but totals down significantly
Friday, 08 17 2018, Category: Nature, Country: World
Global economic losses from catastrophes in the first-half of 2018 declined to $36 billion, year-on-year, with $20 billion, or 56% being covered by re/insurance, according to reinsurance giant Swiss Re’s preliminary sigma estimates.
The $36 billion economic loss total represents a decline of 44% from the $64 billion recorded by Swiss Re during the first-half of 2017, and is below the previous ten-year average of $125 billion.
The $20 billion insured loss total is also down on last year’s $30 billion total by 33%, and also below the previous ten-year average of $35 billion.