Natural disasters cause $310 billion in damages worldwide in 2024
Swiss Re, the Swiss insurance company, states that in 2024, a year likely to be recorded as the hottest in history, natural disasters have resulted in a total of $310 billion in economic damages globally. This figure highlights the increasing impact of climate change.
The Zurich-based major insurance company announced on Thursday, December 6, that the economic damages from natural disasters in 2024 are six percent higher than in 2023, a year that was already recorded as the hottest year in history.
Out of this total, $135 billion pertains to insured damages, which is a 17 percent increase compared to last year. This rise is due to the occurrence of destructive hurricanes Helen and Milton in the United States and severe floods in Europe.
Swiss Re also announced that this is the fifth consecutive year that insured damages have exceeded the $100 billion mark.
