Revealed: Total Global Impact Of 2017 Catastrophes

 Wednesday, April 11, 2018

 Insurance Business

Back in December, reinsurance heavyweight Swiss Re published estimates for total economic losses and insured losses worldwide from 2017’s disaster events — now final numbers are out and they paint an even worse picture of the year that was. From the preliminary figure of US$306 billion for total economic losses from natural and man-made disasters, we see a jump to US$337 billion — a near doubling of 2016’s total losses of US$188 billion. As for global insured losses from catastrophes, the value reached US$144 billion, which is also higher than the December estimate of US$136 billion.