Wednesday, September 20, 2017

Global losses from disasters down in 2017

Global economic losses arising from natural disasters in the first half of the year were at US$53 billion, 56% lower than the 10-year average of US$122 billion, according to a report commissioned by Impact Forecasting, Aon Benfield’s catastrophe model development team.

The report, called Global Catastrophe Recap: First Half of 2017, takes into account the impact of natural disaster events that occurred worldwide in the first six months of the year.

The US$53 billion loss noted in the first half was also lower by 39% when compared to the 17-year average of US$87 billion.

Insured losses were preliminarily estimated at US$22 billion, 35% lower than the 10-year average of US$34 billion, and 12% lower than the 17-year average of US$25 billion.

According to the report, natural disasters claimed at least 2,782 lives in the first six months of 2017, the lowest figure since 1986 and significantly below the long-term (1980-2016) average of 40,867.

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