Canadian Underwriter

Munich re releases nat cat stats

July 31, 2013   by

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Natural catastrophe statistics for the first half of this year have been dominated by severe flooding events, although the overall losses were below the average for the last decade, according to Munich Re. Overall, the first half of the year had 460 loss-relevant natural hazard events, slightly above the 10 year average of 390, the reinsurer said Tuesday. But at about $45 billion, natural catastrophe losses for the first half of 2013 are below the 10 year average of $85 billion, the company said. Insured losses totalled approximately $13 billion (under the 10 year average of $22 billion). All figures are in U.S. currency. Roughly 47% of the overall losses and 45% of the insured losses for the first six months of the year were from inland flooding in Europe, Canada, Asia and Australia, according to Munich Re.