Catastrophe losses fall by 16% over H1 - Swiss Re

Insured losses from catastrophe risks have fallen by 16% over the first half of 2014 to $21bn (£12.7bn), according to initial estimates from Swiss Re’s Sigma database.

The amount is also lower than the ten year average of $27bn for losses over the first six months of a year.

For the first half of 2014, natural catastrophes were responsible for $19bn of insured losses and man-made disasters accounted for $2bn.

These natural catastrophe costs were largely driven by severe storms in the US in mid-May, which resulted in hail damage, thunderstorms and tornadoes (see below).

Top five most costly insured catastrophe losses in H1 2014