Natural disasters cause $310 billion in damages worldwide in 2024
Swiss Re, an insurance company, states that in 2024, a year likely to be recorded as the hottest year in history, natural disasters have caused 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 in a statement on Thursday, December 15, that the economic damages from natural disasters in 2024 are six percent higher than in 2023, a year already recorded as the hottest year in history.
Out of this total damage, $135 billion pertains to insured losses, which have increased by 17 percent compared to the previous year. This increase 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 losses have exceeded $100 billion.