- Newslink Global Insurance Trends-The Week
- Aon releases 2019 Cyber Security Risk Report
- Europ Assistance Cyber Barometer explores consumer sentiment on Cyber Security across nine countries
- Conning study suggests US workers' compensation insurance results of recent years are poised for change
- AMICE highlights the impact of disparate and excessively burdensome regulation on the mutual and cooperative insurance workforce
- AIG reports loss of $622m in fourth quarter-CEO Duperreault "expects to achieve an underwriting profit entering 2019 in General Insurance"
- Allianz reports highest ever operating profit of E11.5bn in 2018 expired
- Digital Risks achieves Lloyd’s coverholder status expired
- Santam selects further Guidewire solutions expired
- RMS U.S. Wildfire High Definition (HD) Model released expired
- deVere Group acquire in UAE expired
- The Hanover to join RSA's Global Network as a Strategic Network Partner in the US expired
19th August 2018
Swiss Re sigma reports provisional global economic and insured losses for first half
According to Swiss Re Institute's preliminary sigma estimates, global economic losses from natural catastrophes and man-made disasters in the first half of 2018 were $36bn. This figure is well below the ten-year average of $125bn in economic losses and significantly lower than the losses reported for the same period a year earlier. Of the total global economic losses in the first half of 2018, $20bn were covered by insurance. A series of winter storms in Europe and in the US caused the largest losses in the first half of 2018. Globally, around 3 900 people lost their lives or went missing in disaster events during the first six months of 2018, compared to approximately 4 600 for the same period in 2017.
Of the $36bn in total global economic losses, natural catastrophes accounted for the majority, or $$34bn in the first half of 2018, compared to $58bn in H1 2017. The remaining $2bn of losses were caused by man-made disasters. Global insured losses from natural catastrophes fell to $18bn, from $25bn the year before, while insured losses from man-made disasters decreased to $2bn from $5bn in the first half of 2017. Nearly 56% of all global economic losses were insured as most disastrous events occurred in areas with high insurance penetration.
Swiss Re Trends(678 articles)