Natural disasters in 2018: economic and insured losses

According to statistics published by Munich Re, 2018 has been particularly strained by natural disasters. Despite a growing number of events, the financial impact of claims has dropped significantly.

Number of natural disasters per region in 2018

A total of 848 natural disaster events were reported in 2018 compared to 710 in 2017. The year 2018 sustained no less than 408 hurricanes, accounting for 48% of the total natural disaster claims.

Natural disaters in 2018: economic and insured losses

The economic losses sustained in 2018 amount to 178 billion USD versus 330 billion USD a year before. Damages to the expense of insurers amounted to 80 billion USD in 2018 versus 135 billion USD in 2017.

North America and especially the United States were the hardest hit in terms of economic and insured losses. This trend is accounted for by the high rate of insurance penetration in this part of the world.

Natural disasters in 2018: breakdown of economic and insured losses per type of event

Weather-related events were prevalent, accounting for 55.2% of claims.

Economic losses due to tropical hurricanes amount to 57 billion USD, 29 billion USD of which are to the charge of insurers. California's wildfires have also had a tremendous impact, causing economic losses worth 24 billion USD and insured losses of 18 billion USD.