In 2014, there were 189 natural catastrophes worldwide, the most ever recorded by Swiss Re publication Sigma, though the cost of these events dropped to $35 billion, from $44 billion the year prior.
The most devastating catastrophe of that year was the August 3rd earthquake in China, where 731 people lost their lives.
It's no surprise that an earthquake ranks at the top of the list. While hurricanes are the costliest catastrophes for insurers, throughout history, earthquakes have generally been the deadliest. The most lethal earthquake on record occurred on Jan. 23, 1556, when an earthquake in Shaanxi, China, struck in the early evening, killing approximately 830,000 people.
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