Canadian Underwriter

The Story So Far


September 26, 2018   by Greg Dalgetty


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ci0918_snapshotSwiss Re recently revealed its estimates for catastrophe losses in the first half of 2018. And, while global insured losses were down (US$20 billion in H1 2018, compared to US$30 billion in H1 2017), things could get worse during the second half of the year, with wildfires running rampant in California, British Columbia and Greece, and widespread drought in Europe and Australia. Here’s a look at some of the cat numbers from the first half of 2018 (all figures in U.S. dollars).

$20 billion
Total insured losses from global disasters in H1 2018

$18 billion
Insured losses from natural disasters

$2 billion
Insured losses from manmade disasters

$2.1 billion
Insured losses from Winter Storm Friederike, which struck Germany and the Netherlands, and also affected France, Belgium and the U.K.

$2.9 billion
Insured losses from winter storms in the U.S., including $1.6 billion from a nor’easter in March

56%
Percentage of global economic losses in the first half of 2018 that were insured

Source: Swiss Re

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Copyright © 2018 Transcontinental Media G.P. This article first appeared in the August edition of Canadian Insurance Top Broker magazine

This story was originally published by Canadian Insurance Top Broker.