Swiss Re: Disaster events claimed more than 5 000 victims in H1 2019

21 August 2019 — Andrei Victor
Global economic losses from natural catastrophes and man-made disasters during H1 2019 amounted to USD 44 billion vs. USD 51 billion reported for the same period a year earlier, according to Swiss Re Institute's preliminary sigma estimates.

Natural catastrophes accounted for the majority, or USD 40 billion, the remaining USD 4 billion of losses being caused by man-made disasters. Global insured losses from natural catastrophes fell to USD 15 billion from USD 21 billion the year before, while insured losses from man-made disasters decreased to USD 4 billion from USD 5 billion.

The report underlined that of the total global economic losses in the first half of 2019, only USD 19 billion were covered by insurance, the main driver being thunderstorms and flooding events in different parts of the world. At the same time, more than 5 000 people lost their lives or went missing in disaster events during the period.

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