Skiplink Navigation

Main Features

Storms rain heavy losses on insurance industry

Natural and man-made disasters cost insurance companies $50 billion (SFr52.5 billion) in 2008, the second-most expensive year ever.

A study released on Thursday by Swiss Re, the world's second-largest reinsurer, showed natural catastrophes this year killed 238,000 people and caused $43 billion in insured losses.

Storms were responsible for most of that sum. Hurricane Ike, which ravaged the United States and Caribbean in September, caused $20 billion in insured losses alone.

The remaining $7 billion in losses came from explosions and fires and other man-made disasters, the study found.

Over the past nine years only 2005 was more costly for the industry, when insured losses totalled $118 billion. Hurricane Katrina was responsible for $66 billion alone that year.


Neuer Inhalt

Horizontal Line

subscription form

Form for signing up for free newsletter.

Sign up for our free newsletters and get the top stories delivered to your inbox.

Click here to see more newsletters

WEF 2018

WEF Teaser 2018