Total economic losses from disaster events to reach USD 85 billion in 2015
- Published: Tuesday, 22 December 2015 09:02
Swiss Re has issued a report giving preliminary estimates of the impacts of disaster events around the world. Insured losses from disaster events have been estimated at USD 32 billion in 2015 and total economic losses from natural catastrophes and man-made disasters are expected to reach approximately USD 85 billion in 2015. Insured losses from natural catastrophes were lower than in 2014, while man-made losses were higher. The explosions at the Port of Tianjin in China are expected to lead to the year's biggest insured loss, and the biggest man-made insured loss in Asia ever. In total, approximately 26 000 people lost their lives in disaster events this year, double the amount in 2014.
2015’s total economic losses of USD 85 billion are significantly lower than in previous years, down from the USD 113 billion loss in 2014 and the previous 10-year loss average of USD 192 billion. Natural catastrophes caused USD 74 billion in losses and man-made disasters the remaining USD 11 billion. Of the total economic losses, USD 32 billion were insured (vs. USD 35 billion the year before), with USD 23 billion triggered by natural disasters, down from USD 28 billion in 2014. This is also below the annual average of USD 55 billion for the previous 10 years of natural catastrophe insured losses. Man-made disasters triggered USD 9 billion in overall insurance losses in 2015, up from USD 7 billion in 2014.
The data from the study can be accessed and visualised at www.sigma-explorer.com