Munich Re and the I.I.I. have released their list of top disasters for the first half of 2011 based on insured losses. According to the two groups, an accumulation of severe natural catastrophes makes 2011 the highest-ever loss year on record, even after just six months.
The numbers bear out the facts. There was $265B in economic losses up to the end of June, which easily exceeds the total figure for 2005, previously the costliest year to date ($220B for the year as a whole).
Altogether, the loss amount was more than five times higher than the first-half average for the past 10 years. The insured losses, around $60B, were also nearly five times greater than the average since 2001.
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