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Global disasters caused $140bn economic losses in 2019

January 1, 2020: Total economic losses from natural and man-made catastrophes fell to around USD 140 billion in 2019 from USD 176 billion last year, Swiss Reinsurance Institute said.
Global insured losses are estimated to be around USD 56 billion, down from USD 93 billion in 2018 and below the annual average (USD 75 billion) of the previous 10 years. 
Related Post: 5 quick tips before purchasing flood insurance
Globally, more than 11 000 people have died or gone missing in disaster events in 2019.
Climate change is leading to more frequent and more severe secondary peril events, which manifest in different ways: more local flooding, torrential rains, prolonged drought, severe wildfires and other extreme weather events. 
The Swiss Re Group is one of the world’s leading providers of reinsurance, insurance and other forms of insurance-based risk transfer, working to make the world more resilient.
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