Munich Re Figures Show Fewer Severe Natural Disasters in the First Half of the Year
- The first half of 2018 was fortunate in that natural disasters across the world caused significantly lower losses than usual. According to provisional figures, overall losses were around US$ 33bn, the lowest level since 2005 (US$ 29bn after adjustment for inflation). - However, individual events did cause high losses for those concerned, for example crop losses in the agricultural sector as a result of drought in Europe. - Also, it is the second half of the year that usually brings higher losses. For example, in 2017 the series of major hurricanes, Harvey, Irma and Maria, pushed overall losses for the year to US$ 340bn.