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Global catastrophe losses down in 2014

Global catastrophe losses down in 2014

Insured catastrophe losses in 2014 fell to the lowest level since 2009, according to a report released Wednesday by Guy Carpenter & Co. L.L.C.

Guy Carpenter’s annual “Global Catastrophe Review” said insured catastrophe losses last year were about $33 billion. In contrast, what Guy Carpenter called “historic” insured catastrophe losses in 2011 totaled about $126 billion.

According to Guy Carpenter, total insured catastrophe losses in 2013 were about $40 billion.

The Americas accounted for 57% percent of global losses in 2014, compared with 48% a year earlier. Arctic winter weather, hurricanes, earthquakes and thunderstorms contributed to those losses, according to the report.

Asia and Australasia accounted for about 23% of the insured losses, with two large snowstorms striking Japan early in the year, causing about $3.1 billion. Insured losses in Europe, Africa, and the Middle East accounted for the rest of the total, according to Guy Carpenter. The report said that Windstorm Ela was among the most notable events, causing insured losses of about $2.8 billion to parts of Germany, France, Belgium and Austria.

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