Economic losses caused by natural catastrophes in the world during the first half of 2022 reached 72,000 million dollars, according to a first estimate published on Tuesday by the reinsurer Swiss Re.
Although this figure is lower than that of the same period in 2021 (91,000 million dollars), the Swiss group emphasized the increasing weight of so-called secondary disasters – smaller than major catastrophes such as hurricanes or earthquakes – , increasingly expensive, according to a statement.
“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, head of catastrophe coverage at Swiss Re.
“This confirms the trend we have seen over the last five years, that secondary disasters generate insurance losses in every corner of the world,” he added.
February winter storms in Europe cost insurance companies $3.5 billion, according to estimates by Swiss Re, the group that plays the role of insurer for insurers.
The bill for flooding in Australia after torrential rains in February and March was $3.5 billion “at the moment,” the company said.