Worldwide Nat Cat caused losses USD 26 billion in 1H/2012

12 September 2012 —
uraganul_irene12011 will remain in history as one of the most shocking year when it comes to natural catastrophes. New Zealand, Japan, USA, Caribbean and Thailand regions have suffered quakes, tsunamis, floods and hurricanes, costing more than USD 380 billion in economic costs and more than USD 105 billion in insured losses, it was revealed at the RVS press conference in Monte Carlo.

Even though during 2011 casualties were less, the costs on claims reached new records, with earthquakes representing almost half (47% or USD 50 million) of the total cost of Nat Cat in 2011 claims, taking in consideration that the average ratio for the last 30 years is only at 10%.

On the other hand, losses of storms and hurricanes remain well below average (37% compared with an average of 76%).

Jean Philippe THIERRY during his presentation mentioned that for the 1H/2012 costs on claims are below average with the economic losses reaching above USD 26 billion compared with an average of USD 76 billion over the last 10 years, with insurance paid claims of USD 12 billion compared with an average of USD 19 billion over the last 10 years.

On the other hand, major industrial risks caused significant losses for the insurance and reinsurance industry since the beginning of this year, reaching USD 2.81 billion in paid claims up until May present year.

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