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.
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.