Swiss Re Institute estimates global economic losses of USD 44 billion from catastrophes in the first half of 2019

15 August 2019 Swiss Re

• Natural catastrophes accounted for USD 40 billion economic losses in H1 2019, down from USD 45 billion a year earlier
• Global insured losses from disasters were USD 19 billion in H1 2019, down from USD 26 billion in H1 2018
• Disaster events claimed more than 5 000 victims in H1 2019

Global economic losses from natural catastrophes and man-made disasters in the first half of 2019 amounted to USD 44 billion, according to Swiss Re Institute's preliminary sigma estimates. This figure is well below USD 109 billion, the average first-half economic losses of the previous ten years. It is also lower than the losses of USD 51 billion reported for the same period a year earlier. Of the total global economic losses in the first half of 2019, USD 19 billion were covered by insurance, the main driver being thunderstorms and flooding events in different parts of the world. More than 5 000 people lost their lives or went missing in disaster events during the period.

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