A backhoe clears the rubble of historic buildings destroyed by the February 6 earthquake on July 10, 2023 in Antakya, Turkey (AFP/OZAN KOSE)
The damage caused by natural disasters in the world amounted to around 120 billion dollars (109 billion euros) in the first half, according to an estimate by Swiss Re, with storms in the United States inflating the bill for insurers.
This figure is down slightly from the first half of 2023, when the damage had been estimated at around 123 billion dollars, the damage covered by the insurance companies having on the other hand increased somewhat, to 50 billion dollars, against 48 billion a year earlier, the Swiss reinsurer said in a statement on Wednesday.
The costliest disaster was the earthquake in Turkey and Syria.
Economic losses are valued at $34 billion, according to a preliminary estimate by the World Bank, with costs for insurers estimated at $5.3 billion, according to calculations by Swiss Re, which acts as insurer for insurers.
But it is thunderstorms and associated weather phenomena, including hail, heavy rainfall, wind and sudden changes in temperature, that have driven up insurers’ bills the most.
They represented nearly 70% of the damage taken care of, the invoice for the insurance companies amounting to 35 billion dollars.
The United States alone accounted for $34 billion in insured losses, with storms costing insurers $34 billion there. Ten storms caused more than $1 billion in damage, with Texas being the hardest hit state.
© 2023 AFP
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