Decreasing costs of natural catastrophes during the first half of 2017

According to Munich Re, natural catastrophes that occurred in the first half of 2017 caused insured losses of 19.5 billion USD. This amount is well below the 32 billion USD recorded during the same period of 2016. The average annual loss for the last ten years is 29 billion USD.

Still for the first half of 2017, economic losses also declined going from 111 billion USD, for the same period in 2016, to 41 billion USD. The 10-year average is of 102 billion USD.

The German reinsurer underlines that the reduction in the loss experience together with the abundance of capacities will maintain the pressure on reinsurance tariffs.