Overview
- Floods, wildfires and severe storms accounted for $98 billion of insured losses, far above the 10-year average of $60 billion.
- Los Angeles wildfires were the costliest event, causing about $53 billion in total losses, including roughly $40 billion insured.
- A 7.7-magnitude earthquake in Myanmar was the second most expensive disaster by overall losses at about $12 billion, with only a small share insured.
- Munich Re describes a year with record first-half insured losses followed by the quietest second half in a decade, as the U.S. mainland saw no hurricane landfalls for the first time in 10 years.
- The report records about 17,200 deaths worldwide and highlights large protection gaps, with Asia-Pacific suffering $73 billion in losses but only $9 billion insured as scientists link many events to a warming climate and the warmest decade on record.