Swiss Re: cost of natural and human-made catastrophes in 2023

A Sigma study (n°1/2024) published by the Swiss Re Institute estimates that natural and human-made disasters have generated economic losses worth 291 billion USD in 2023, 40.2% of which, or 117 billion USD, is borne by insurers.

The damage caused by natural disasters alone amounted to 280 billion USD, 108 billion USD of which was insured.

The earthquake in Turkey and Syria is considered the costliest disaster in 2023, with 6.2 billion USD in insured losses.

The past year was also marked by successive violent storms and large-scale urban flooding.

Human-made disasters resulted in 11 billion USD in economic damage, 9 billion USD of which was borne by insurance companies.