Natural disasters in China, a 39-billion- USD under-insurance in 2015

Natural disasters that occurred in China, in 2015, generated total economic losses of 41 billion USD. Only 4% of damage from these events, that is 1.5 billion to 2 billion USD have been covered by insurers.

Losses concern mainly property damage, with 248 000 homes that collapsed and the agricultural sector with 22 000 hectares of damaged land.

As for the human toll, it reported 819 deaths. A total of 6.4 million people were affected directly or indirectly by these catastrophes.

With a GDP of 10.114 billion USD in 2014, China, one of the world economic powers, recorded a huge insurance deficit with a penetration rate of 3.2%.