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Worldwide natural catastrophe losses at their highest in four years, says Munich Re

Almost 30 percent of the 2016 losses were insured. The share of uninsured losses the so-called protection or insurance gap remained substantial at around 70 percent.

By Jayleen R. Heft | Updated on January 06, 2017

Earthquakes in Asia and Italy, flooding in the United States, Asia and Europe, a deadly hurricane along with wildfires in Canada, made 2016 the costliest 12 months for natural catastrophe losses in the last four years, according to reinsurer Munich Re.

Losses totaled $175 billion, a good two-thirds more than in the previous year, and nearly as high as the figure for 2012 ($180 billion).

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Jayleen R. Heft

Jayleen R. Heft

Jayleen Heft is the digital content editor for PropertyCasualty360.com. Contact her at [email protected].

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