Global disasters expected to cost insurers US$32b in 2015
Zurich
CATASTROPHES in 2015 proved more deadly than the previous year, although the total cost to the insurance industry is likely to be 8.6 per cent lower at US$32 billion, reinsurance specialist Swiss Re said in its annual "sigma" report on expected global insured losses, which was released on Friday.
Approximately 26,000 people died from disasters this year, the company said, more than double the fatalities counted in 2014, with the greatest loss of life caused by the 7.8 magnitude earthquake in Nepal that killed 9,000 and destroyed half a million homes.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
Helicopter carrying Iran’s President Raisi crashes in mountains: official
UK to spend more than £10 billion on compensation in infected-blood scandal
Vietnam anti-graft crusader nominated to be next president
Saudi king to undergo medical tests due to fever, joint pain
China launches anti-dumping probe into imported EU, US chemical
Canada exploring higher tariffs on China electric vehicles: trade minister