Natural catastrophes: 115 billion USD of insured losses in 2022

Natural catastrophesAccording to Swiss Re, the economic damage resulting from the natural disasters that have occurred, since the beginning of 2022 to date, has cost a total of 260 billion USD.

This is 11% lower than in 2021 and 25.6% higher than the average of 207 billion USD recorded during the last ten years.

Insured losses amounting to 115 billion USD have declined by 5% over one year and increased by 42% compared to the ten-year average.

The category 4 hurricane Ian, which hit Florida in September 2022, has become the most significant loss for insurers. This climatic event alone could cause insured losses ranging between 50 and 65 billion USD. According to the Swiss reinsurer, it is the third most costly catastrophe ever recorded after hurricane Katrina in 2005.

2022 is regarded as the second consecutive year during which the amount of insured damages exceeded 100 billion USD.

Man-made disasters have, for their part, generated 8 billion USD of economic damages, out of which 7 billion USD are insured.

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