Natural catastrophe losses in the first half of 2023

A Munich Re report revealed that the economic damage caused by natural disasters over the first six months of 2023 amounted to 110 billion USD.

This figure is lower than that recorded for the same period in 2022 (120 billion USD), but still higher than the average for the last ten years (98 billion USD). The insured losses totaled 43 billion USD.

The 6 February earthquakes in Turkey and Syria are considered to be the year's most costly natural disasters, with global losses estimated at 40 billion USD, 5 billion USD of which were covered by insurers.

During the first half of 2023, the United States was severely hit by violent thunderstorms accompanied by tornadoes and hailstorms. The economic and insured losses reached 35 billion USD and 25 billion USD respectively.

Still according to the German group, the first six months of 2023 were marked by record high temperatures in many parts of the world, triggering droughts and serious forest fires.