1. Home
  2. Update

Swiss Re: Catastrophes cost the insurance industry USD 70 billion in the first half year of 2011

Source(s): Swiss Reinsurance Company (Swiss Re)
Upload your content

Swiss Re reports that total insured losses for the global insurance industry due to natural catastrophes and man-made disasters attained USD 70 billion in the first half of 2011.

Thomas Hess, Swiss Re’s Chief Economist, says: "Given the many people who died in Japan and the sad experiences in New Zealand, 2011 will certainly go down as another year of very tragic earthquakes. In terms of catastrophe claims, 2011 is already the second costliest year in history for the insurance industry. Additional claims from the ongoing US hurricane season or expensive winter storms in Europe have the potential to bring figures for the full year even closer to the record claims of USD 120 billion experienced in 2005."

Attachments

View full story English

Document links last validated on: 16 July 2021

Explore further

Hazards Cyclone, Hurricane and Typhoon Earthquake Tsunami
Themes Insurance and risk transfer Economics of DRR
Country and region Japan New Zealand United States of America
Share this

Please note: Content is displayed as last posted by a PreventionWeb community member or editor. The views expressed therein are not necessarily those of UNDRR, PreventionWeb, or its sponsors. See our terms of use

Is this page useful?

Yes No
Report an issue on this page

Thank you. If you have 2 minutes, we would benefit from additional feedback (link opens in a new window).