First-half 2014 losses from natural catastrophes were well below the 10-year average for this time period, as were fatalities from such events, research from Munich Re shows.
Global nat-cat losses totaled $42 billion for the first six months of 2014, while insured losses were $17 billion, compared to the 10-year averages of $95 billion economic and $25 billion insured. Fatalities as a result of nat cats totaled 2,700, far below the 10-year average of 53,000 for first-half deaths, notes a summary of the Munich Re figures written by Insurance Information Institute President Robert Hartwig.
Hartwig says the U.S. accounted for the greatest percentage of economic losses at 35%. Europe and Asia accounted for 30% each.
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