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Survey Report

Willis Re Summary of Natural Catastrophe Events 2017

Insured losses and economic impact due to natural disasters

Casualty|Risk Control and Claims Advocacy|Insurance Consulting and Technology|Property|Reinsurance
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February 1, 2018

Insured loss estimates from major natural catastrophes in 2017 of USD 143 billion are the highest since the losses of USD 120 billion observed in 2011.

This report summarizes economic and insured losses from the most relevant natural catastrophe events that occurred during 2017.

Aerial view of ocean

The insured loss estimates from major natural catastrophes in 2017 of about USD 143 billion are the highest since the annual market losses of USD 120 billion observed in 2011. The focus of the year in terms of natural disasters comes from Hurricanes Harvey, Irma and Maria, which severely impacted the Caribbean and the U.S. with a combined loss of about USD 75 billion.

  • In the U.S., the largest insured losses came from Hurricanes Harvey, Irma and Maria with about USD 16 billion, USD 18 billion and USD 22 billion, respectively (estimates for Irma and Maria include the U.S. Virgin Islands and Puerto Rico).
  • Europe had its largest market losses from windstorm Zeus hitting mainly France with about USD 300 million of insured losses; windstorm Thomas/Doris affecting Belgium, Germany, Ireland, the Netherlands and the U.K. with total losses of about USD 260 million; and windstorm Herwart impacting Austria, Czech Republic, Germany and Hungary with about USD 260 million losses.
  • In Asia, the largest event was tropical cyclone Debbie in Australia with losses greater than USD 1.1 billion.
  • Finally, the event with largest impact in Latin America was the Mexico earthquake in September with loss estimates of approximately USD 2.0 billion.

To access the full report, click the link below.

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Willis Re Summary of Natural Catastrophe Events 2017 PDF 3.2 MB
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