Causing thousands of deaths around the world, natural catastrophes bring giant losses on the economies of nations. Offering professional services in risk, insurance, pension, human resources solutions, health and fringe benefits; Aon released the “Global Catastrophe Recap: First Half of 2018” that analyzes the impacts of natural catastrophes that occurred during the first half of 2018 around the world. According to the report, natural disasters caused a total loss of 45 billion USD during the first half of this year, while insured losses are estimated to have reached 21 billion USD. 

There were an estimated 156 natural disaster events which occurred in the first half of 2018, which was above the 21st Century average of 142. Natural disasters claimed at least 2 thousand 153 lives during the first half of 2018; while flooding was the deadliest peril of the first two quarters of 2018, being responsible for at least 892 deaths. While there was not a “mega” catastrophe that led to economic damage beyond 10 billion USD, the first six months were marked by many smaller-scale disasters. There were at least 15 separate billion-dollar events, 14 of which were weather related, except for 1 earthquake. The billion-dollar events were led by the U.S. with 6 events, followed by EMEA with 4, APAC with 4, and the Americas with 1.