5min read
PREVIOUS ARTICLE RBA strikes dovish tone in Dec... NEXT ARTICLE Oil price collapse hits ASX en...

Losses from natural and man-made disasters are estimated to total $155 billion (136 billion euros) this year, down sharply from a hurricane-plagued 2017, the reinsurance giant Swiss Re said Tuesday. 
The trio of hurricanes Harvey, Maria and Irma last year pushed losses to $350 billion, but Swiss Re noted that a ‘number of smaller and mid-sized events, alongside some major man-made disasters’ in 2018 were still cause for serious concern. 
Events this year ‘highlight the increasing vulnerability of the ever-growing concentration of humans and property values on coastlines and in the urban-wildlife interface.’
Overall, the figures served as a reminder that ‘extreme weather conditions can quickly turn into catastrophe,’ the company said. 
Among the major events causing damage this year were hurricanes Michael and Florence, a series of typhoons in Asia and the recent California wildfires. 
Roughly half of all losses recorded this year were covered by insurance, Swiss Re said.