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Natural disasters : lower losses than usual for the first half of 2018

by

Justine Montminy

25 July 2018 13:30

Photo : Freepik

The economic losses related to natural catastrophes for the first half of 2018 have reached 45 billion u.s. dollars (G$ US), according to the latest Global Catastrophe Recap ofAon Benfield. This figure is 64 % lower than the average of the last ten years.

The economic losses insured from these disasters amounted to 21 billion US dollars, which is 40 % lower than the average for the decade, which amounts to 35 billion US$.

 

 

A greater number of disasters

The number of disasters for the first half of the year, however, is higher than the usual average with 156 events reported against 142 on average.

“The first six months of 2018 have been marked by several disasters of great magnitude with at least 15 events that have led to economic losses of at least a billion dollars across the world. However, the losses which resulted were largely manageable for insurers, ” says the director of the predictions of impacts and meteorologist, Steve Bowen.

The meteorologist reminds us that this is not because the first half of 2018 has recorded losses that are lower than average so that it will automatically be the same for the second part of the year.

Losses of more than$ 1 billion

The report indicates that 15 separate events have caused economic losses of US$ 1 billion and more. Among these events is found the harsh climate of the month of march, which has led to the loss of more than 2.25 billion US dollars in the United States.

Canada has mainly been affected by floods and a harsh winter in the first half of 2018.

 

 

The country has also experienced severe thunderstorms in June. Primarily, it is the area of Ontario that has been affected, with losses amounting to around 10 million us dollars (US$ M).

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