Benign H1 for cat losses: sigma

Benign H1 for cat losses: sigma

Global catastrophe-related insurance losses were relatively low in the first half of the year at $21bn, according to preliminary sigma estimates from reinsurer Swiss Re. This compares with a loss of $25bn in H1 2013 and an average of $27bn during the 10 years to 2013.
Natural catastrophe-related insurance claims were $19bn, down from $21bn in H1 2013 and $4bn lower than the $25bn 10-year average.
Total economic losses from disaster events reached $44bn in the first half, of which $41bn was attributable to natural catastrophes (H1 2013: $59bn). The average H1 loss over the previous nine years was $94bn.
The most significant insured losses were the heavy snowstorms in Japan early this year ($2.5bn) and severe storms in mid-May in the US which, with accompanying hailstorms, caused an estimated $2.6bn in insured damage. The severe winter weather that brought snow as far south as Mississippi and Georgia caused insured losses of about $1.7bn. June summer storm Ela in France, Germany and Belgium generated some $2.7bn in insured losses

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