World’s Second Largest Reinsurer Swiss Re Sees Huge Drop In Losses From Natural/Manmade Catastrophes In 2014!

The online Swiss Handelszeitung (Trade News) reports on the world’s second largest reinsurer Swiss Re, and on the losses from natural catastrophes for 2014. Let’s recall that natural catastrophes are supposedly becoming more and more frequent due to the alleged man-made climate worsening from manmade CO2 emissions.

Hat-tip: Kurt

However the Handelszeitung writes that preliminary estimates show that the Swiss reinsurer saw “markedly less damage claims than in previous years” and far less loss of lives. Fortunately this is lots of good news, but the catastrophe-obsessed media are refusing to report it.

Deaths plunge almost 60%!

According to preliminary Swiss Re estimates, total economic losses from natural catastrophes and man-made disasters were USD 113 billion in 2014, down from USD 135 billion in 2013. Out of the total economic losses, insurers covered USD 34 billion in 2014, down 24% from USD 45 billion in 2013.

The 2014 loss amount is way below the annual average of $188 billion dollars for the past 10 years, 1.e. over 41% less.

The Swiss Re press release writes that disaster events have claimed around 11,000 lives this year – down almost a whopping 60% from the 27,000 fatalities in 2013.

“No major hurricane”

The Zurich, Switzerland based reinsurer attributes the reduced damage in part to “the mild hurricane season“. It adds: “No major hurricane made landfall in the US, the ninth year running that this has happened.”

“Very low temperatures and heavy snow”

Moreover, the major losses resulted from cold events. The Swiss Re writes that “2014 started with extreme winter conditions in the US and Japan and, as the year drew to a close, the Northeast US was once again gripped by very low temperatures and heavy snow. The storms in the US at the beginning of 2014 alone caused insured losses of USD 1.7 billion. This is above the average full-year winter storm loss number of USD 1.1 billion of the previous 10 years. In mid-May, a spate of strong storms with large hail stones hit many parts of the US over a five-day period, resulting in insured losses of USD 2.9 billion, the highest of the year.”

Another myth bites the dust.


10 responses to “World’s Second Largest Reinsurer Swiss Re Sees Huge Drop In Losses From Natural/Manmade Catastrophes In 2014!”

  1. grayman

    Another myth bites the dust,, And your wallet!!!

  2. John M

    Since they used “climate trends” to justify higher premiums, I’m sure discounts are right around the corner.

    Yup, right around the corner….

    Any minute now…..

  3. John F. Hultquist

    Swiss Re need not put the checkbook away just yet. A storm cometh.
    Wind, rain, then cold to arrive about Christmas Day in the heartland of the USA.

  4. Kurt in Switzerland

    Thanks, Pierre.

    You still owe your readers a clarification and eventually a retraction of the Climate Nexus attribution in your posting on the Daily Kos rant against Willie Soon earlier this week.

    Unless I’m missing something, nobody has actually demonstrated that the blogpost in question originated or is affiliated with Climate Nexus in any way.

    Kurt in Switzerland

    1. Kurt in Switzerland

      Just saw your post with the link to the Climate Nexus news feed, clearly on Climate Nexus masthead:

      (Climate Nexus merely re-posted the adolescent Daily Kos rant).

      It would be interesting to hear from Climate Nexus and/or their sponsor how this behavior (childish, ad hominem attack on Willie Soon which fails to even address anything of import) jibes with Climate Nexus’ and the Rockefeller Philanthropy Advisors’ Value Statement:

  5. Veckan som gick - Stockholmsinitiativet - Klimatupplysningen

    […] Den gångna veckan har hon hittat en del intressanta saker bland annat en på en annan av mina favoriter, nämligen Pierre Gosselins NoTricksZone (NTZ), där hon hittat ett inlägg om att världens näst största återförsäkringsbolag (ett försäkringsbolag där andra försäkringsbolag kan försäkra sig mot förluster på grund av exceptionellt stora kostnader, exempelvis på grund av naturkatastrofer), rapporterat att 2014 verkar bli ett ovanligt billigt år. Dessutom är det de kostnader som orsakats avkyla som varit de största. (länk) […]

  6. Weekly Climate and Energy News Roundup #161 | Watts Up With That?

By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this. More information at our Data Privacy Policy