Global insured losses from catastrophes were USD 45 billion in 2013, Swiss Re sigma says

A press release from my former employer, Swiss Re:  According to the latest sigma study, global insured losses from natural catastrophes and man-made disasters were USD 45 billion in 2013, down from USD 81 billion in 2012. Of the 2013 insured losses, USD 37 billion were generated by natural catastrophes, with hail in Europe and floods in many regions being the main drivers.

• Total economic losses from natural catastrophes and man-made disasters were USD 140 billion in 2013
• Global insured losses were around USD 45 billion in 2013, with large contributions from flooding and hail events
• Around 26 000 lives were lost in natural catastrophes and man-made disasters in 2013
• A special chapter on climate change in the sigma says rising global temperatures are expected to lead to shifts in the frequency, intensity and duration of extreme weather events

Total economic losses from catastrophic events were USD 140 billion, down from USD 196 billion in 2012 and well below the 10-year average of USD 190 billion. The number of victims in disaster events grew to around 26 000 in 2013 from 14 000 the previous year.

Asia was hardest hit by natural catastrophes in terms of economic losses and victims. Typhoon Haiyan in the Philippines in November brought some of the strongest winds ever recorded, alongside heavy rains and storm surges. Around 7 500 people died or went missing, and more than 4 million were left homeless. The second biggest humanitarian disaster of 2013 was the June flooding in the state of Uttarakhand in India, which claimed some 6 000 lives.

Europe suffered the two most expensive natural disaster events in 2013. Massive flooding in central and eastern Europe in May/June after four days of heavy rain caused large-scale damage across Germany, the Czech Republic, Hungary and Poland. Total economic losses were USD 16.5 billion, and the insured loss was USD 4.1 billion. Not long after, in late July parts of Germany and France were hit, this time by severe hailstorms. The storms struck heavily populated areas in Germany, which, according to latest estimates, generated most of the entire insured loss total of USD 3.8 billion, the largest ever from a hail event, worldwide...