MUNICH Re: Natural disasters caused losses of over EUR 17 billion

21 October 2013 — Mihaela CIRCU
baden_baden_munich_2013_micAccording to MUNICH Re's initial estimates, presented at the Baden-Baden Meeting, losses due to natural catastrophes totalled EUR 17 billion in Europe in the first nine months of 2013. These loss figures were dominated by flood losses, which accounted for a share of 75%. The insurance companies only paid USD 8 million (approximately EUR 5.8 billion) in losses.

baden_baden_munich_2013_1_micThe long-term trend in the number of natural catastrophe events and the resulting losses is clearly pointing upwards: an analysis of Munich Re's natural hazards statistics confirms that severe weather events have almost tripled worldwide since 1980. Flood events in Germany and central Europe have doubled since 1980.

"It is urgently necessary to adapt to such events now. Studies clearly show that it makes far more economic sense for economies to invest in prevention early on and thus avoid losses", said Ludger ARNOLDUSSEN, Member of MUNICH Re's Board of Management.

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