Munich Re - Natural Disasters In 2021 $121 Billion In Insured Losses Globally; 2nd Only To 2017
Marked by devastating hurricanes and cold snaps in the United States, 2021 proved the second-most costly year on record for the world's insurers, Munich Re said on Monday, warning that extreme weather was more likely with climate change.
Insured losses from natural catastrophes totalled around $120 billion last year, second only to the $146 billion in damages during the hurricane-ridden year of 2017. The annual tally by Munich Re , the world's largest resinsurer, is higher than an estimate of $105 billion that competitor Swiss Re published last month. read more
The U.S. - ravaged by dozens of tornadoes in December, and by Hurricane Ida and freezes in Texas earlier in the year - accounted for an unusually large portion of the losses, Munich Re said. "The images of natural disasters in 2021 are disturbing. Climate research increasingly confirms that extreme weather has become more likely," said Torsten Jeworrek, a member of Munich Re's board.
Nearly 10,000 people died from natural catastrophes, in line with previous years. Total losses, including those not covered by insurance, were $280 billion, the fourth-highest on record.
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https://www.reuters.com/markets/commodities/natural-disasters-cost-insurers-120-billion-2021-munich-re-says-2022-01-10/