Economic losses from natural disasters rise to $72 billion in first half - Finance

Economic losses from natural disasters rise to $72 billion in first half – Finance

Floods and storms around the world weighed on insurers’ bills in the first half of the year, with economic losses caused by natural disasters amounting to 72 billion dollars (70 billion euros), according to an initial estimate by Swiss Re.

If this figure is lower than that of the first half of 2021 (91 billion dollars)the Swiss group nevertheless highlighted the growing burden of so-called secondary disasters, which are increasingly costlybetween the floods in Australia, the winter storms of February in Europe or the hailstorms in France, he underlines in a press release.

In adding man-made disasterssuch as industrial accidents, economic losses from natural disasters and claims have reached $75 billion in the first half, compared to $95 billion in the first half of 2021quantified the reinsurer.

The bill for insurers for natural disasters alone (excluding human disasters) amounts to $35 billion, or 22% above the ten-year average.

February storms in Europe cost insurers $3.5 billionas estimated by Swiss Re. The bill for Australian floods after torrential rains in February and March amount to ‘so far’ $3.5 billionspecifies the reinsurer.

Estimates for hailstorms and heavy rain in France amount to 4 billion euros in terms of insured losses.

Although this figure is lower than that of the first half of 2021 (91 billion dollars), the Swiss group has nevertheless highlighted the growing weight of so-called secondary disasters, which are increasingly costly, between the floods in Australia, the winter storms of February in Europe or the hailstorms in France, he underlines in a press release. Adding man-made disasters such as industrial accidents, economic losses from natural disasters and claims reached $75 billion in the first half, compared to $95 billion in the first half of 2021, the reinsurer. The bill for insurers for natural disasters alone (excluding human disasters) amounts to 35 billion dollars, or 22% above the ten-year average. February storms in Europe cost insurers $3.5 billion, according to Swiss Re estimates. Bill for flooding in Australia after torrential rains in February and March is mounting ‘so far’ to 3.5 billion dollars, specifies the reinsurer. Estimates for hailstorms and heavy rain in France amount to 4 billion euros in terms of insured losses.

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