Asian News - Nepal: 25 April quake was world's costliest Nat CAT last year
Source: Asia Insurance Review | Mar 2016
The 25 April earthquake in Nepal, which struck northwest of the capital Kathmandu was the deadliest natural catastrophe in the world last year, and also the costliest in terms of overall losses, according to global reinsurance giant, Munich Re.
Countless buildings, including many historically important sites, were destroyed by the magnitude-7.8 quake. Around 9,000 people were killed and 500,000 were made homeless. Only a fraction of the US$4.8 billion in overall losses caused by the quake and the aftershocks was insured.
Overall, the natural catastrophes of the past year worldwide claimed 23,000 lives, substantially more than the figure of 7,700 in 2014. Overall losses totalled US$90 billion (previous year $110 billion), of which roughly $27 billion (previous year $31 billion) was insured.