Natural Catastrophes Account for $40 Billion in Economic Losses in First Half of 2019
Global economic losses from natural catastrophes and man-made disasters in the first half of 2019 amounted to $44 billion, according to Swiss Re Institute's preliminary sigma estimates.
The figure is well below $109 billion, the average first-half economic losses of the previous 10 years. It is also lower than the losses of $51 billion reported for the same period a year earlier. Of the total global economic losses in the first half of 2019, $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.