Floods and storms around the world weighed on insurers' bills in the first half of the year, with economic losses caused by natural disasters amounting to 72 billion dollars (70 billion euros), according to an initial estimate by Swiss Re, published tuesday.
This figure is lower than that of the first half of 2021, during which global economic losses reached 91 billion dollars.
But the Swiss group, which acts as an insurer for insurers, highlights the growing weight of so-called secondary disasters, which are increasingly costly, between the floods in Australia, the winter storms in February in Europe or the storms of hail in France.
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Adding man-made disasters such as industrial accidents, economic losses from natural disasters and claims reached $75 billion in the first half, compared to $95 billion in the first half of 2021, the reinsurer.
The bill for insurers amounted to 38 billion dollars, against 49 billion a year earlier.
Secondary disasters are increasing all over the world
The bill for natural disasters alone (excluding human disasters), however, amounts to 35 billion dollars, or 22% above the ten-year average, calculates the reinsurer, which warns of the effects of climate change.
The frequency of so-called secondary disasters, such as floods and storms, as opposed to major disasters such as earthquakes or hurricanes, is increasing all over the world, he notes.
"
The effects of climate change are evident in the increasing number of extreme weather events, such as the unprecedented floods in Australia and South Africa
," said Martin Bertogg, director of disaster coverage specialist business at Swiss Re. .
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February storms in Europe cost insurers $3.5 billion, according to Swiss Re estimates. Bill for flooding in Australia after torrential rains in February and March is mounting '
so far
' to 3.5 billion dollars, specifies the reinsurer.
Estimates for hailstorms and heavy rain in France amount to 4 billion euros in terms of insured losses.
