Natural and man-made disasters caused losses of $140 billion in 2019 – Swiss Re

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Natural and man-made disasters caused losses of $140 billion in 2019 – Swiss Re

Natural and man-made disasters caused global economic losses of around $140 billion during 2019, Swiss Re said on Thursday, slightly down from the $176 billion figure a year earlier.

Natural catastrophes like tropical cyclones in Mozambique and India were responsible for $133 billion of the losses, the company said, citing research from the Swiss Re Institute. The figure was below the $200 billion average for the last ten years.

Insured losses from natural catastrophes fell to $50 billion from $84 billion in 2018. Globally, more than 11,000 people died or went missing in disasters in 2019, Swiss Re added. (Reporting by John Revill Editing by Michelle Martin)…

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