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Munich Re: Natural disasters cause damage of $ 280 billion

MUNICH (dpa-AFX) – According to an analysis by Munich Re (Munich Reinsurance Company), the year 2021 joins the worrying long-term trend of increasing destruction from natural disasters. Worldwide storms, floods and other natural hazards caused damage of 280 billion US dollars last year, as the reinsurer announced on Monday. According to Munich Re, less than half of this was insured at $ 120 billion.

For Europe, last summer’s devastating flash floods in Germany and its neighboring countries were the most expensive natural disaster of all time at 54 billion dollars and 46 billion euros, 33 billion euros of which in Germany alone. But the USA was hit even harder, where tornadoes, hurricanes and a cold spell hit $ 145 billion.

In the inflation-adjusted ranking of the most expensive natural catastrophe years in 2021, according to Munich Re, it ranks fourth. The most expensive year so far was 2011, when the seaquake, tsunami and the subsequent nuclear disaster in Japan drove the global economic damage to 355 billion dollars./cho/DP/jha

Reference-www.finanzen.at

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