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Overall picture of natural catastrophes in 2013 dominated by weather extremes in Europe and Supertyphoon Haiyan

January 10, 2014 Comments off

Overall picture of natural catastrophes in 2013 dominated by weather extremes in Europe and Supertyphoon Haiyan
Source: Munich Re

Exceptionally high losses from weather-related catastrophes in Europe and Supertyphoon Haiyan dominated the overall picture of natural catastrophes in 2013. Floods and hailstorms caused double-digit billion-dollar losses in central Europe, and in the Philippines one of the strongest cyclones in history, Supertyphoon Haiyan, resulted in a human catastrophe with over 6,000 fatalities.

Globally, losses from natural catastrophes in 2013 were somewhat more moderate: the direct overall losses of around US$ 125bn and insured losses of around US$ 31bn remained below the average figures of the past ten years (US$ 184bn and US$ 56bn). Regrettably, in a total of 880 natural catastrophes (average of the past ten years: 790), more than 20,000 people were killed. This meant that the death toll was higher than in 2012, but significantly below the average of the past ten years (106,000).

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2012 Half-Year Natural Catastrophe Review

July 14, 2012 Comments off

2012 Half-Year Natural Catastrophe Review (PDF)
Source: Munich Re

+ Insured losses in the United States during the first six months of 2012 totaled US$ 9.3bn – near the long-term average but well below the US$ 24.4bn seen in the first half of 2011 (in 2012 Dollars).

+ Thunderstorm (tornado-hail) activity accounts for the almost all US losses so far, and are estimated at US$ 8.8bn, the third most costly spring thunderstorm season in US history

+ Very mild winter over most of US causes only minor winter storm losses. Lack of heavy winter precipitation limited spring flooding but has exacerbated drought conditions.

+ Severe droughts now impacting central and southwest parts of country; Two major wildfires in Colorado in June caused record damage in the state from the peril, and the largest wildfire in New Mexico history occurred in May.

+ Active early hurricane season; tropical storms Beryl and Debby caused minor wind damage and extensive flooding in Florida.

+ No significant, damaging earthquakes in US during first half of 2012.

Review of natural catastrophes in 2011: Earthquakes result in record loss year

January 4, 2012 Comments off

Review of natural catastrophes in 2011: Earthquakes result in record loss year

Source: Munich Re

A sequence of devastating earthquakes and a large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses. At about US$ 380bn, global economic losses were nearly two-thirds higher than in 2005, the previous record year with losses of US$ 220bn. The earthquakes in Japan in March and New Zealand in February alone caused almost two-thirds of these losses. Insured losses of US$ 105bn also exceeded the 2005 record (US$ 101bn).

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