At $79B, 2018 Global Insured Losses Hover Near Record Territory: Swiss Re

December 19, 2018

Total economic losses from natural and man-made disasters in 2018 are down from the previous year, but insured losses are hovering near record territory.

Swiss Re’s latest sigma report calculated an estimated $155 billion in economic losses from natural and man-made disasters for $155 billion, versus $350 billion in 2017. Global insured losses for catastrophes reached an estimated $79 billion for 2018, which Swiss Re said is the fourth highest in sigma records, and higher than the annual average of the previous 10 years.

Either way you look at it, however, catastrophe losses have stung.

Some of the additional sigma report findings:

Disasters through 2018 included Hurricanes Michael and Florence in the U.S.; Typhoons Jebi, Trami and Mangkhut; heat waves, droughts and wildfires in Europe and California and volcanic eruptions in Hawaii.

Swiss Re said that 2018 marks the 50th anniversary of its sigma reports.

Source: Swiss Re