19 December 2007

Swiss Re loss data

Posted by Dave Petley

The reinsurance company Swiss Re yesterday released its preliminary annual loss data for 2007.

Swiss Re Loss data

Notable elements are:

  • Their initial estimate is that >20 000 people were killed by natural and man-made catastrophes in 2007

  • Financial losses from catastrophes represented a loss of USD 61 billion across the globe

  • The three largest financial losses occurred in Europe as a result of storms
  • Four of the five biggest losses of life occurred in Asia.

  • Insured losses amounted to USD 25 billion, which is USD 9 billion higher than in 2006.

My own dataset suggests that the number of people killed by landslides in 2007 to date is about 2,600 – i.e. more than 10% of the global disaster toll.

Finally, Swiss Re usefully publish a graph of insured catastrophe losses since 1970:

Note that there appears to be something wrong with the x-axis here, but the overall upward trend is clear. 2007 probably ranks as a below trend year in terms of insured losses.