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Sarah Veysey

2013 catastrophes result in $44B in insured losses: Swiss Re

December 18, 2013 - 9:50am

Catastrophe insured losses

Destroyed buildings stand among debris in a village on the coastline of Eastern Samar, Philippines, after Typhoon Haiyan hit the island nation in November.


Natural and man-made catastrophes caused insured losses of about $44 billion in 2013, according to a Swiss Re Ltd. sigma report published Wednesday.

The study showed that insured losses from disasters in 2013 were down significantly from about $81 billion in 2012.

Economic losses from catastrophes in 2013 totaled about $130 billion, according to the study, compared with about $196 billion in 2012.

About 25,000 lives were lost as a result of natural and man-made disasters in 2013, compared with about 14,000 last year, the study showed.

The highest loss of life in 2013 occurred as a result of Typhoon Haiyan in the Philippines, which killed at least 7,000 people, the report said.

Among major insured losses in 2013 were floods in Central and Eastern Europe in June that resulted in insured losses of about $4 billion and caused economic losses of about $18 billion, Swiss Re said.

These floods were the second-most expensive freshwater floods in Swiss Re sigma records, it said, behind Thai flooding in 2011, which caused insured losses of about $16 billion.

In June, floods in Alberta, Canada, caused insured losses of about $2 billion, the study said.

During July, hailstorms in France and Germany caused insured losses of about $3 billion.

Windstorm Christian in northern Europe caused insured losses of about $1 billion, Swiss Re said, while Windstorm Xaver in the same region caused about another $1 billion in insured losses.

 



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