This amount is well below the half-yearly average for the last ten years (2008-2017), set at 30.6 billion USD.
Natural disasters in the first half of 2018
For the first half of 2018, the most onerous phenomenon amounted to 2.7 billion USD in economic losses and 2.1 billion USD in insured losses. It is the Friederike storm that lashed Germany, the Netherlands and Belgium, in early January 2018.
The second most expensive event of the first semester pertains to the storm that occurred in early March in the northern United States. This depression caused economic losses of 2.2 billion USD for insured damage amounting to 1.6 billion USD.
Importantly, because of the low intensity of the storms, the weather events observed in the first half of 2018 are to be borne by direct insurers more than reinsurers.
Unless there is an exceptional event, as the hurricane season is coming to a draw, it seems that the year 2018 will be reporting a loss ratio well below that of the long-term average.
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Natural disasters in 2017
According to published statistics, it is found that, in the long term, only five years reported more than 600 natural disasters worldwide. The latter occurred during the last seven years.
With 710 events listed, the year 2017 was particularly busy with this type of disaster with a notorious upsurge in the number of floods which amounted to 335 in total, that is, 47% of the claims reported against a long-term average of 40%. Asia was the hardest hit.
Number of natural catastrophes per region in 2017
Source: Munich Re
Number of deaths per region in 2017
* Including Central America and the Caribbean.
Source: Munich Re
It is in Asia that we count the highest number of deaths
Of the 710 natural disasters reported, nineteen are classified in category 4 of the Saffir Simpson scale which includes five. With such force, Hurricanes are particularly devastating events.
Economic losses recorded in 2017
Source: Munich Re
Insured losses recorded in 2017
* Including Central America and the Caribbean.
Source: Munich Re
Weather-related events have been largely prevalent as they accounted for 81% of claims. North America, and especially the United States, was the hardest hit in terms of economic losses and insured losses.
This trend is accounted for by the high insurance penetration rate in this part of the world.
Breakdown of economic losses per type of event
Source: Munich Re
Breakdown of insured losses per type of event
Source: Munich Re
Share of losses borne by insurance per region
* Including Central America and the Caribbean.
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