Global total economic losses from natural catastrophes andman-made disasters in the first half of 2017 were $44 billion,compared with $117 billion in the first half of 2016, according toSwiss Re.Much of this can be attributed to fewer and less intenseevents.

Of the total losses in the first half of 2017, $23 billion werecovered by insurance, down from $36 billion in the first half of2016.

Globally, around 4,400 people lost their lives or went missingin disaster events. While the number is low relative to recentyears, the toll may rise once estimates on the number of victims ofEurope's severe June heat waves are included.

Thunderstorms rage throughout the U.S.

Severe thunderstorms in the U.S. resulted in the largest lossesin the first six months of the year. Four separate severe weatherevents from February to May each caused insured losses of more than$1 billion.

The costliest event occurred in May, when a four-day long stormdelivered hail throughout Colorado and strong winds through partsof southern and central states. This storm alone resulted ineconomic losses of $2.2 billion, with insured losses reaching up to$1.9 billion.

Extreme weather throughout 2017

The largest and most costly insurance event outside of the U.S.was Cyclone Debbie, which struck the northeastern coast ofAustralia in late March, leading to insured losses of $1.3 billion.Other large events included floods in Peru andsevere frost damage in late spring in the southeastern part of theU.S. and in Europe.

(Photo: Swiss Re Institute)

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