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2017 global insured losses to reach $306 billion, Swiss Re estimates

Swiss Re estimates insured losses for 2017 will be the third highest on record, following a tumultuous second half of the year.

By Danielle Ling | Updated on December 21, 2017
Swiss Re says this year's wildfires that devastated parts of northern California contributed to the U.S.'s insured losses, triggering combined insured property losses of $7.3 billion. (Photo: AP Photo)

Swiss Re has released its preliminary sigma estimates, estimating total economic losses from natural and man-made disasters in 2017 at $306 billion, the third highest on record. This 2017 estimate is a tremendous increase from $188 billion in 2016.

Global insured losses from catastrophes in 2017 are estimated to be $136 billion, the third highest on sigma records; and 2017 is also the second costliest hurricane season on sigma records after 2005. The U.S. was hit the hardest, with historic losses from hurricanes Harvey, Irma and Maria.

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Danielle Ling

Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

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