Asia - Insured losses in Jan-Jun at US$12 bln, below longterm average of $15 bln
Source: Asia Insurance Review | Aug 2015
Insured losses in the first half of the year was US$12 billion, compared with the long-term average of $15 billion, according to Munich Re’s half year review.
Overall losses and insured losses were below the long-term average values. Total losses incurred in the first half of 2015 were $35 billion, whereas the average value for the last 30 years is approximately $64 billion when adjusted for inflation.
The review on Nat CATs for the first half of 2015 was characterised by the earthquake in Nepal and by the heatwave that affected India and Pakistan. Some 12,000 people fell victim to these two natural catastrophes.
In the first half of the year, a total of over 16,000 people died in severe weather events and earthquakes. This means that, by the end of June, the number of people that lost their lives in natural catastrophes was much greater than in the previous year (2,800), but also far lower than the average for the past 30 years (27,000).