Aon: Global insured Nat CAT losses during 1H18 is 40% lower than 10-year average

Source: Middle East Insurance Review | Sep 2018

Global economic losses from natural disasters for 1H18 were estimated at $45bn – 64% lower than the 10-year average of $124bn, according to Aon’s ‘Global Catastrophe Recap: First Half of 2018’ report.

Insured losses were preliminarily estimated at $21bn – 40% lower than the 10-year average of $35bn. These totals are subject to change as losses further develop.

There were an estimated 156 natural disasters which claimed at least 2,153 lives in the first half of 2018, according to the report. Flooding was the deadliest peril, having been responsible for at least 892 deaths.

While there was no ‘mega catastrophe’ that lead to economic damage beyond $10bn, there were at least 15 separate billion-dollar events in 1H18 – all of which were weather-related, except one earthquake event – led by the US (6), EMEA (4), APAC (4) and the Americas (1).

There were many smaller-scale disasters, with APAC recording the highest number of disasters – 55. EMEA was second with 44 incidents, followed by the US with 37 and the Americas with 20. M

Comment | Print

Name*

Email*

Comment*

Code Verification*

Enter the code shown above in the box below.

Note that your comment may be edited or removed in the future, and that your comment may appear alongside the original article on websites other than this one.