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Insurance cost of natural disasters down in 2015 at US$27b: Munich Re

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Members of the Royal National Lifeboat Institution rescuing a woman and her dog from a flooded property in Carlisle, northern England, in early December. Munich Re said floods in the UK and Scandinavia from storm Desmond in early December may amount to about 700 million euros in claims.

Frankfurt

INSURANCE claims from natural disasters such as storms and earthquakes fell to US$27 billion in 2015 as the overall cost of natural catastrophes dropped to its lowest level since 2009, reinsurer Munich Re said on Monday.

The climate phenomenon known as El NiƱo last year

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