The review on the natural catastrophes for the first half of 2015 was characterised by the earthquake in Nepal and by the heatwave that affected India and Pakistan. Some 12,000 people fell victim to these two natural catastrophes. In the first half of the year, a total of over 16,000 people died in severe weather events and earthquakes.
This means that, by the end of June, the number of people that lost their lives in natural catastrophes was much greater than in the previous year (2,800), but also far lower than the average for the past 30 years (27,000). The overall losses and insured losses were below the long-term average values. The total losses incurred in the first half of 2015 were US$ 35bn, whereas the average value for the last 30 years is approximately US$ 64bn when adjusted for inflation. Insured losses for this year so far have been US$ 12bn, compared with a long-term average of US$ 15bn.
"The natural catastrophes in the first half of the year show us once again that vulnerability to natural catastrophes needs to be reduced, particularly in emerging and developing countries. This is necessary first of all to ensure people are better protected, but also to keep losses as low as possible,” said Torsten Jeworrek, Munich Re Board member with responsibility for global reinsurance business. "At the same time, we see how natural climate cycles like the current El Niño phase can have different influences on the occurrence of weather extremes at a regional level. It is therefore important to combine findings from research with the trends in loss statistics. We want to maintain our position as pioneers and promote practical measures to reduce losses."
