Approximately $ 120 billion of the $ 280 billion in losses caused by natural disasters in 2021 was insured, Munich Re said on Monday.
Last year, 2005 and 2011 were the second most expensive ever for the insurance industry, after 20017's only record. $ 146 billion in inflation-adjusted losses. Total losses from natural disasters in 2021 were the fourth highest ever.
Hurricane Ida was last year's most expensive natural disaster, causing total losses of $ 65 billion, with $ 36 billion insured. Floods following extreme rains in Europe in July caused $ 54 billion in losses. The floods were the most costly natural disaster ever in Germany, said Munich Re.
Last year's natural disaster losses peaked in 2020, yielding $ 21
The United States saw the largest share of natural disaster losses in 2021, about $ 145 billion, of which about $ 85 billion was insured. This compares with 2020's total losses of $ 100 billion, with $ 67 billion insured, and 2019's total losses of $ 52 billion, with $ 26 billion insured.
In addition to Hurricane Ida in August, extreme cold hit the southern United States in February. The event, known as the "Texas Freeze" when the temperature dropped to -8 ° C (17 ° F) in Houston, was the third most expensive natural disaster of the year, with total losses of $ 30 billion, half of which were insured.
] In December, severe convective storms in several states in the central and southeastern United States caused total losses of about $ 5.2 billion, of which about $ 4 billion were insured.
The flood in Europe in July 2021 caused by the "Bernd" low-pressure system caused total losses of $ 54 billion, including $ 40 billion in Germany. The insured portion – $ 13 billion, of which $ 9.7 billion in Germany – was relatively low due to uninsured infrastructure losses and the limited insurance density for floods in Germany, said Munich Re.
Disaster losses in the Asia-Pacific region, meanwhile. , was "modest", with total losses of $ 50 billion, of which $ 9 billion were insured.
Ernst Rauch, head of climate and geoscientists at Munich Re and head of the climate solutions unit, called the 2021 disaster statistics "striking.