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Top related persons:
Hurricane Ian - 1 Ernst Rauch - 1 Rauch - 1
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Munich Re - 1 U.S - 1 CNBC - 1 videoconference - 1

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2 mentions found


☆ Record thunderstorm losses and deadly earthquakes cost $250 billion in damages in 2023, report says
  + stars: | 2024-01-09 | by ( Sam Meredith | ) www.cnbc.com   time to read: +2 min
Destructive thunderstorms in North America and Europe and a series of devastating earthquakes last year cost the world around $250 billion in damages, according to a new report from the world's largest reinsurance company. In Europe, thunderstorm losses amounted to $10 billion, of which $8 billion was insured. It said such high thunderstorm losses were unprecedented for the U.S. and Europe. Munich Re said that while the economic and insured losses from 2023 may not appear extraordinary, it marks another year of "extremely high" damages even without any so-called mega-disasters in industrialized countries. In 2022, for example, Hurricane Ian was found to have resulted in overall economic losses of a whopping $100 billion and insured losses of $60 billion.
Persons: Hurricane Ian, Ernst Rauch, Rauch Organizations: Munich Re, U.S, CNBC, videoconference Locations: North America, Europe, Munich
☆ Hurricanes and floods bring $120 billion in insurance losses in 2022
  + stars: | 2023-01-09 | by ( Tom Sims Alexander Hübner | Tom Sims | Alexander Hübner | ) www.reuters.com   time to read: +2 min
Losses from natural catastrophes covered by insurance totalled around $120 billion last year, similar to 2021, though short of 2017's record damages, Munich Re (MUVGn.DE), the world's largest reinsurer, said. Annual insured losses of $100 billion appear to be "the new normal", he said. Total losses from natural catastrophes, including those not covered by insurance, were $270 billion in 2022. The United States once again accounted for a big portion of the losses with Hurricane Ian, which hit Florida in September, causing $60 billion of insured damages and $100 billion in total losses. Floods in Australia early in the year and again in October resulted in $4.7 billion in insured damages and $8.1 billion overall.
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