Munich Re Figures Show Fewer Severe Natural Disasters in the First Half of the Year

PR74356

MUNICH, July 11, 2018 /PRNewswire=KYODO JBN/--

     - 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.

    Munich Re Board member Torsten Jeworrek: "Following a period of extreme

disasters with record losses, it is nice to be able to record a phase with low

losses. Of course, looking at a short timespan may distort the true picture.

The most important thing is to understand the long-term developments. That is

why we must continue to make every effort to understand the background to

natural disasters, and provide safeguards against them in the form of

intelligent prevention measures."

(Photo: https://mma.prnewswire.com/media/716947/Munich_Re_Infographic.jpg )

    Overview of natural catastrophe figures

    - The overall losses of US$ 33bn were roughly half those of the previous

year and of the price-adjusted average for the last 30 years.

    - At approximately US$ 17bn, insured losses were less than in the previous

year (US$ 25.5bn), but matched the average for the first six months over the

last 30 years.

    - The NatCatSERVICE database [http://natcatservice.munichre.com ]

registered 430 relevant natural disasters in the first half of 2018, more than

the long-term average (250). (Read more

[https://www.munichre.com/topics-online/en/2018/07/natural-catastrophes-first-half-of-2018 ] )

    For further questions please contact:

    Group Media Relations: Stefan Straub Tel.: +49 (89) 3891-9896 Mobile: +49

(0)1516 4933048 Fax:+ 49 (89) 3891-79896 sstraub@munichre.com

    https://mma.prnewswire.com/media/716948/Munich_Re_Study.pdf

SOURCE: Munich Re