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Oct 2020

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Global: Worldwide insured catastrophe losses estimated at $31bn in 1H2020

Source: Asia Insurance Review | Sep 2020

Global economic losses from natural catastrophes and man-made disasters in the first half of 2020 stood at $75bn according to Swiss Re Institute’s preliminary sigma research estimates.
 
The figure was higher than the $57bn for the same period a year earlier but well below the average of first-half economic losses of the previous 10 years ($112bn).
 
Of the economic losses, around 40% ($31bn) were covered by insurance, up from $23bn a year earlier. In the previous 10 years, first-half insured claims averaged $36bn annually.
 
Natural catastrophes accounted for $28bn of the insured losses in 1H2020. The figure was an increase from $19bn in the first six months of 2019 while insured losses from man-made disasters decreased to $3bn from $4bn. A 
 
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