MUNICH Re: NatCat events cause overall losses of USD 150 billion in 2019, only one third being covered by insurance

14 January 2020 — Andrei Victor
820 natural catastrophes caused overall losses of USD 150 billion in 2019, a portion of only USD 52 billion being insured, below the 2018 figure, as the global reinsurer MUNICH Re informed in a statement: "This was due, among other things, to the high share of flood losses, which are often not insured to the same extent as wind damage in most industrial countries".

"The insured portion of overall losses, slightly above 35%, matches the average of the past ten years. This is evidence that large sections of the market remain uninsured, especially in emerging and developing countries".

Globally, in 2019, about 9,000 people lost their lives in natural catastrophes compared with 15,000 in 2018. "This confirms the overall trend towards lower numbers of victims thanks to better prevention measures. On average over the past 30 years, about 52,000 people per year have lost their lives in natural catastrophes".

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