sigma No 1/2018: Natural catastrophes and man-made disasters in 2017: a year of record-breaking losses

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Overview

Total insured losses from natural catastrophes and large man-made disasters were USD 144 billion in 2017. An active hurricane season in the North Atlantic, and a series of wildfire, thunderstorm and severe precipitation events across different regions pushed global catastrophe claims to their highest level ever recorded in a single year. Total economic losses were USD 337 billion, making an all-peril global catastrophe protection gap of USD 193 billion in 2017. Globally, more than 11 000 people lost their lives or went missing in disasters, while millions were left homeless.

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