Worldwide natural catastrophe losses of 310 billion dollars
Published: Thursday, Dec 5th 2024, 11:40
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Numerous natural disasters such as hurricanes, thunderstorms and floods have once again caused severe damage worldwide this year. The USA was particularly hard hit, but floods in Europe and the United Arab Emirates also had a negative impact.
Reinsurer Swiss Re estimates that natural catastrophes around the world have caused economic losses of 310 billion US dollars so far in 2024, according to a statement on Thursday. That was 6 percent more than last year. And if man-made disasters are included, the total loss is estimated at 320 billion.
However, less than half of these economic losses are insured. According to estimates by the Swiss Re Institute, this amounts to a total of 144 billion dollars or 135 billion dollars for natural catastrophe losses. In 2023, insured losses from natural disasters amounted to 115 billion.
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