Editions:  Austria · Denmark · France · Germany · Italy · Norway · Spain · Sweden · Switzerland

Damage from 2012 disasters dings insurers

Share this article

18:22 CET+01:00
Natural and man-made disasters caused $186 billion in damage worldwide last year, according to a calculation released on Wednesday by the Swiss re-insurance group Swiss Re.

Of that sum, insurance companies were exposed to claims of up to $77 billion, which would make 2012 the third most costly year on record, it added in a statement.
  
Hurricane Sandy in the United States cost an estimated $70 billion in losses, with about $35 billion covered by insurers, making it the second most expensive storm on record after Hurricane Katrina hammered New Orleans and nearby regions in 2005.
   
A series of earthquakes in Italy contributed further to the 2012 total,
Swiss Re said.

The amount of insured losses was nonetheless well below that of 2011, when a record number of earthquakes and the Japanese tsunami resulted in insurance claims that totalled $126 billion, the group noted.

Get notified about breaking news on The Local

Share this article

From our sponsors

Change the world with a master's degree from Sweden's Linköping University

Master's students at world-leading Linköping University (LiU) aren't there simply to study. They solve real-world problems alongside experts in fields that can create a better tomorrow. Do you have what it takes to join them?

Advertisement