Swiss Re: Cost of natural and man-made disasters in 2020

SWISS REAccording to initial estimates by Swiss Re, natural and man-made disasters are expected to cost 83 billion USD to the global insurance market in 2020.

The current year is considered to be the fifth most expensive year for insurers since 1970.

Damages caused by natural disasters alone amount to 76 billion USD compared to 54 billion USD in 2019, that is a 40% increase in one year.

Total economic losses are expected to reach 187 billion USD, a 25% increase in one year.

The Swiss Re study does not include the Covid-19 related costs.

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