Natural Disaster Damage Hits 4-year High Of $175 Bn In 2016: Munich Re

Natural disaster damage hits 4-year high of $175 bn in 2016: Munich Re

FRANKFURT AM MAIN, Jan 4 (APP - UrduPoint / Pakistan Point News - 04th Jan, 2017 ) : Natural disasters including storms and earthquakes caused $175 billion of damage in 2016, German reinsurance giant Munich Re said Wednesday, the highest level since 2012.

While the year saw a two-thirds increase in the financial impact of catastrophes around the world, casualties from natural disasters were far lower in 2016 than the previous year, at 8,700 deaths compared with 25,400.