First-half 2014 losses from natural catastrophes were well belowthe 10-year average for this time period, as were fatalities fromsuch events, research from Munich Re shows.

Global nat-cat losses totaled $42 billion for the first sixmonths of 2014, while insured losses were $17 billion, compared tothe 10-year averages of $95 billion economic and $25 billioninsured. Fatalities as a result of nat cats totaled 2,700, farbelow the 10-year average of 53,000 for first-half deaths, notes asummary of the Munich Re figures written by Insurance InformationInstitute President Robert Hartwig.

Hartwig says the U.S. accounted for the greatest percentage ofeconomic losses at 35%. Europe and Asia accounted for 30% each.

In the U.S., 11 winter storm and cold wave events caused themost fatalities (84), while 33 severe thunderstorm events causedthe most economic and insured losses ($9.1 billion and $6.7 billionrespectively).

The severe winter storm activity resulted from “a persistent'Omega Block' pattern, combined with a weakened Polar Vortex” thatcaused frozen precipitation events as far south as the Floridapanhandle during the winter months, Munich Re says.

As for the thunderstorm events, one outbreak from April 28-May 1spawned 80 tornadoes and caused an estimated $1.1 billion ininsured losses. Another outbreak from May 18-May 23 stretched fromMontana to New York, causing $1.7 billion in insured losses.Golf-ball-sized hail fell in Chicago and Denver and baseball-sizedhail hit parts of Indiana and Ohio. Wind gusts in excess ofhurricane force caused downed trees and power lines further eastacross the mid-Atlantic.

Out west, a heat wave and strong Santa Ana winds helped causeeight wildfires in San Diego County in May, burning over 29,000acres and destroying 60 properties. The fires caused one death and$770 million in economic losses.

Still, Munich Re notes that, globally and including the U.S.,the biggest nat-cat loss events did not exceed more than a fewbillion dollars.