Insured losses totalled $21bn over the first six months of 2014

Insured losses from catastrophe risks have fallen by 16% over the first half of 2014 to $21bn (£12.7bn), according to initial estimates from Swiss Re’s Sigma database.

The amount is also lower than the ten year average of $27bn for losses over the first six months of a year.

For the first half of 2014, natural catastrophes were responsible for $19bn of insured losses and man-made disasters accounted for $2bn.

These natural catastrophe costs were largely driven by severe storms in the US in mid-May, which resulted in hail damage, thunderstorms and tornadoes (see below).

Top five most costly insured catastrophe losses in H1 2014

MonthInsured losses
Total losses
May2.63.2Thunderstorms, hailUSA
June2.52.7Storm ElaFrance, Germany, Belgium
February2.55.0Snow stormJapan
January1.72.5Snow stormUSA
May1.11.7Thunderstorms, tornadoesUSA

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