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According to Swiss Re forecasts, natural catastrophes could generate economic losses of 310 billion USD in 2024.
For the fifth consecutive year, insured losses are likely to exceed the 100 billion USD mark, reaching 135 billion USD in 2024.
Natural disasters in 2024 are heavily impacted by global warming. The Swiss group predicts that, with temperatures 1.54° higher than the pre-industrial average, 2024 could become the hottest year in history.
Among the year's major losses were the violent storms that hit several countries, most notably the United States. These events are estimated to have cost the insurance industry 51 billion USD worldwide.
Hurricane Helene hit Florida on 27 September, followed by Hurricane Milton on 9 October. These two disasters are expected to generate insured damage of 50 billion USD.
Severe flooding in Europe and the United Arab Emirates would generate insured losses of 13 billion USD.
