Insured losses from natural disasters hit $120 billion: Munich Re
Posted On: Jan. 10, 2023 9:50 AM CST![Catastrophes](https://bicontent.businessinsurance.com/bd6bd5e5-2c2b-47f0-899c-0f60c10359d7.jpg)
Germany-based Munich Reinsurance Co. said that natural disasters caused an estimated $120 billion in insured losses globally in 2022, Live Mint reports citing Bloomberg. Including uninsured losses, the total cost of storms, droughts, earthquakes and fires last year was $270 billion.