Damage from natural disasters in 2023 amounted to $250 billion – Kommersant
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According to the reinsurance company Munich Re, more than 74 thousand people died from natural disasters in 2023. Global damage from natural disasters amounted to $250 billion, which is the same as in 2022.
It is noted that the volume of insured losses decreased to $95 billion compared to 2022, when this figure was $125 billion. The average volume of insured losses over the past five years is at $105 billion.
According to the insurance company, in 2023 the number of deaths from natural disasters increased to a record 74 thousand people. The average annual figure for deaths from natural disasters over the past five years was 10 thousand people.
In 2023, approximately 63 thousand people (85% of the total) died due to geophysical hazards. The company’s analysts singled out the earthquake in Turkey and Syria as the most destructive humanitarian disaster of the year. In turn, the greatest financial damage in 2023 was caused by hurricanes in the United States and Europe.
On February 6, the strongest earthquake in the last 80 years occurred in Turkey and Syria. Tremors of magnitude 7.7 and 7.6 were recorded. The total number of deaths exceeded 58 thousand people. Turkish authorities estimated the damage from the earthquake at $110 billion.
Read more about economic losses from natural disasters in the material “The Economics of Natural Disasters”.
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