Cli­mate havoc adds bil­lions to in­sur­ance

Sunday Times - - Business Opinion & Bits -

Nat­u­ral dis­as­ters in­clud­ing wild­fires, hur­ri­canes and tsunamis in­flicted $160bn (R2,231-tril­lion) of dam­age in 2018, Ger­man rein­surer Mu­nich Re said on Tues­day.

The fi­nan­cial toll was far be­low the $350bn recorded the pre­vi­ous year in a record hur­ri­cane sea­son, it said in its an­nual reck­on­ing, but above the 30-year av­er­age of $140bn.

As with the pre­vi­ous year, the US suf­fered the heav­i­est losses from dis­as­ters glob­ally.

Newspapers in English

Newspapers from South Africa

© PressReader. All rights reserved.