In recent years, climate change has caused a series of disasters. DEMs.
Since January 2022, natural disasters and man-made losses around the world have caused $268 billion worth of losses. This is slightly less than the previous year, despite the devastation caused by Hurricane Ian in the United States and Cuba.
That corresponds to a 12% decline over the year, according to a sigma study released Thursday by reinsurance giant Swiss Re. 1 year.
Year-to-date costs to insurers are estimated at $115 billion for natural catastrophes (down 5% over the year) and $7 billion for personal losses (-24%).
“Hurricane Ian, along with other winter storms in Europe, has caused an estimated $115 billion in natural disaster-related losses to date, with flooding in Australia and South Africa and hail storms in France and the United States.” , according to a Swiss Re statement aimed at insuring insurance companies.
The natural disaster that caused the biggest economic loss this year was Hurricane Ian, which wreaked havoc on the United States and Cuba.
According to Swiss Re, the weather phenomenon cost between $50 billion and $65 billion.
“This highlights the potential threat a single hurricane poses to a densely populated coastline in a year of mild hurricanes,” said a study by a Zurich-based Swiss group.
This year also confirmed the importance of so-called secondary hazards (such as floods and storms) compared to major hazards (earthquakes, hurricanes). They cost him more than $50 billion, according to Swiss Re.
February storms in Europe caused losses worth $3.7 billion.
The reinsurer added that heavy rains that caused massive flooding in Australia in February and March cost about $4 billion.
“Urban development, accumulation of wealth in disaster-prone areas, inflation and climate change are important factors,” says Martin Bertog, head of catastrophe risk at Swiss Re.