Magazine date:
Mar 2023 
According to Swiss Re, the economic damages caused by natural disasters [4] have amounted to 275 billion USD. The insured losses totalling 125 billion USD have exceeded the 100 billion USD mark for the second year in a row.
The past year was characterized by large-scale climatic disasters, notably hurricane Ian in Florida, hailstorms in France, floods in Australia and South Africa, winter storms in Europe and in the United States.
Droughts in Europe, China and Brazil also resulted in heavy losses for insurers and reinsurers. In 2022, man-made disasters have caused economic damages worth 9 billion USD out of which 7 billion USD are insured.
Natural and man-made catastrophes: total economic and insured losses (2021-2022)
Figures in billions USD| Economic losses | Insured losses | |||||
|---|---|---|---|---|---|---|
| 2022 | 2021 | Variation | 2022 | 2021 | Variation | |
| Natural catastrophes | 275 | 292 | -5.8% | 125 | 121 | +3.3% |
| Man-made disasters | 9 | 11 | -18.2% | 7 | 9 | -22.2% |
| Total | 284 | 303 | -6.3% | 132 | 130 | +1.5% |