• Switzerland's news in English
Swiss firm reports dip in global disaster bill
The earthquake in Nepal cost $6 billion. Photo: Prakash Mathema/AFP

Swiss firm reports dip in global disaster bill

AFP · 30 Mar 2016, 15:14

Published: 30 Mar 2016 15:14 GMT+02:00

Facebook Twitter Google+ reddit

Global insured losses were $37 billion, far below the $62 billion annual average of the last 10 years, it said.
The biggest single insured loss of the year was the twin explosions at the port of Tianjin, northeastern China, in August which was estimated to cost between $2.5 and $3.5 billion.
This was followed by a storm in the United States in February, which left insurers with a bill of $2.1 billion.
Out of 353 disaster events, 198 were natural catastrophes, the highest number in any one year, Swiss Re said.
The report is the final version of a preliminary estimate last December which said all disasters in 2015 cost $85 billion.
Around $80 billion of the $92 billion losses came from natural disasters, led by the earthquake in Nepal, which cost $6 billion -- a figure that includes damage reported in India, China and Bangladesh -- and killed nearly 9,000 people, making it the deadliest single disaster event in 2015.
The report said the blasts in Tianjin, which also killed 173 people, were the costliest insurance loss event ever in Asia, and the third costliest worldwide, on a list headed by the 9/11 terror attacks on the United States, estimated at $25.2 billion.
The Tianjin disaster "has put a spotlight on accumulation risk in large transportation hubs such as ports," the report noted.
"The imposition of an exclusion zone at the site due to the risk of follow-up explosions and clean-up operations made it very difficult for insurers to assess the losses arising from the many damaged or destroyed assets, such as the many cars in transit at the port," it said.

For more news from Switzerland, join us on Facebook and Twitter.

Facebook Twitter Google+ reddit

Your comments about this article

Today's headlines
'Protect Swiss waterways or lose our fish': WWF
Photo: Richi Stadelmann/WWF

Eighty-five percent of fish species in Switzerland are under threat, according to a report by the World Wildlife Fund (WWF).

SBB pilots new annual pass – costing 12,200 francs
The 'door-to-door' pass includes use of an electric car. Photo: SBB

Swiss federal railways (SBB) is looking for 100 people willing to pilot a new annual transport pass that includes use of an electric car.

Immigration to Switzerland falls as emigration rises
File photo: The Local

Immigration in Switzerland has fallen considerably this year, according to official figures.

Wawrinka aces his way into Basel quarterfinals
Photo: Fabrice Coffrini/AFP

The home favourite returns to the quarterfinals of the Swiss Indoors for the first time in five years.

Illegal immigrant dies after setting himself on fire
The victim was treated at University Hospital Zurich. Photo: University Hospital Zurich

The 45-year-old Tunisian was threatened with deportation.

Swiss government rejects call for second immigration vote
Photo: Justus Blumer/Christophe G

The Swiss government has rejected a popular initiative calling for a revote on plans to limit immigration.

Bern: companies should report salary inequality by law
File photo: Fabrice Coffrini/AFP

The Swiss government wants to force small companies to examine their rates of pay every four years.

Husband in custody after Orbe body identified
File photo: Bas Leenders

The deceased is a 55-year-old woman who lived in the house with her husband.

Presented by MoneyPark
How to get a mortgage in Switzerland
Houses in Zürich. Photo: Pixabay.

Ready to buy? Here’s what you need to know as an expat about Swiss regulations, how to finance your purchase, and why you should use a broker.

Autumn in Switzerland: ten stunning Instagram photos
Photo: Swiss Tourism/Jan Geerk

Switzerland is beautiful in all seasons, but as these photos show, autumn is a special time in the alpine country.

Photo: Unterirdisch Ueberleben
Inside Switzerland’s largest nuclear bunker – 40 years on
Sponsored Article
Last chance to vote absentee in the US elections
Photo: The Local
Ticino firefighters rescue cow from swimming pool
Photo: Antoni Da Campo
Vegan wins battle to be accepted by Swiss army
Photo: Swiss Tourism
Ten Swiss ski resorts named most expensive in Europe
Photo: Randy Kashka
Swiss women will ‘work for free’ for the rest of year
Photo: Swiss Tourism
Montreux throws hat in Olympic rings
Photo: Swiss Tourism
Seven things you’ll miss about Switzerland if you leave
Photo: Richard Juilliard/AFP
Man makes Geneva airport bomb threat ‘for a joke’
Photo: AFP
Solar Impulse team reveals plans for unmanned plane
File photo: Martin Abegglen
Swiss to vote on passport rules for 3rd gen foreigners
Photo: AFP
Swiss wingsuit hotspot Lauterbrunnen won’t impose ban
Photo: Swiss Tourism
Six reasons Switzerland isn’t as boring as you might think
Photo: Swiss Tourism
Report: Switzerland one of world’s best places for girls
Photo: The Local
Thief returns Swiss cow bells worth thousands
File photo: Wikimedia Commons
One in three rapists isn’t locked up: statistics
Photo: activistin.ch
Tampon-tax protest turns Zurich fountains red
Photo: AFP
Geneva police to lift ban on bearded officers
Photo: Marcel Gillieron/AFP
Suicide chef’s restaurant keeps Michelin stars
Photo: Lara de Salis
11 things the Swiss get tired of hearing abroad
Photo:  Ivo Scholz/Swiss-image.ch
Survey: expats in Switzerland have money but few friends
Photo: AFP
Swiss press criticize Bern’s 'capitulation' on immigration
Photo: Jura Trois Lacs tourism
German ex-policeman is Swiss city’s new hermit
Photo: Dmitry A. Mottl
Ticino votes to favour local workers over foreigners
jobs available