Swiss Re: 337 billion dollar pay-out for natural disasters
(CercleFinance.com) - Total damage from natural and man-made disasters reached 337 billion dollars worldwide in 2017, almost double the losses in 2016 and the second highest payout ever, according to the latest sigma study published by Swiss Re Institute.
Insured losses resulting from catastrophic events in 2017 totalled 144 billion dollars worldwide, the highest level ever reported by sigma.
The highest losses were due to the three hurricanes - Harvey, Irma and Maria (HIM) - which ravaged the US and the Caribbean. Hurricanes Harvey, Irma and Maria cost the insurance industry 92 billion dollars, which represents 0.5% of US GDP. In 2017, they represented the second most expensive cyclone season in the North Atlantic since 2005, according to the Swiss Re Institute's sigma study.
2017 was also a record year for forest fires. The major fires worldwide cost the insurance sector a total of 14 billion dollars, which represents the highest level ever.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Insured losses resulting from catastrophic events in 2017 totalled 144 billion dollars worldwide, the highest level ever reported by sigma.
The highest losses were due to the three hurricanes - Harvey, Irma and Maria (HIM) - which ravaged the US and the Caribbean. Hurricanes Harvey, Irma and Maria cost the insurance industry 92 billion dollars, which represents 0.5% of US GDP. In 2017, they represented the second most expensive cyclone season in the North Atlantic since 2005, according to the Swiss Re Institute's sigma study.
2017 was also a record year for forest fires. The major fires worldwide cost the insurance sector a total of 14 billion dollars, which represents the highest level ever.
Copyright (c) 2018 CercleFinance.com. All rights reserved.