Home engulfed in fire from wildfire A home is engulfed in the flames of the Tea Fire in Santa Barbara, California, U.S. (Photo: JONATHAN ALCORN/Bloomberg)

New data from Swiss Re estimates that catastrophes in the first half (1H) of 2018 resulted in $36 billion in total global economic losses. This number is significantly less costly than last year's total of $64 billion in 1H 2017, and well below the average.

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