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According to Swiss Re, economic losses resulting from natural and human-made disasters amounted to 127 billion USD as at 30 June 2024. More than half of this amount, or 66 billion USD, is covered by the insurance market.
The cost of economic damage linked to natural catastrophes stands at 120 million USD, 60 million USD of which is insured.
Storms alone, mainly in the United States, account for 70% of the latter amount, or 42 million USD, of the total cost of insured claims.
Total economic and insured losses
Figures in billions USD| H1 2024 | H1 2023 | |
|---|---|---|
| Economic losses | 127 | 158 |
| Natural catastrophes | 120 | 152 |
| Human-made catastrophes | 7 | 6 |
| Insured losses | 66 | 65 |
| Natural catastrophes | 60 | 60 |
| Human-made catastrophes | 6 | 5 |
Source: Swiss Re Institute
