Zurich As climate change continues to take its toll, Swiss Re reported Thursday that natural disasters cost the world $310 billion in economic damages in 2024, a year that is expected to be the warmest on record.
According to a statement from the Zurich-based reinsurance behemoth, the predicted economic losses from natural disasters were 6% greater than in 2023, which is presently the hottest year on record.
According to the report, insured losses increased by 17% annually to $135 billion, driven up by severe flooding in Europe and the destructive hurricanes Helene and Milton in the United States.
According to the Swiss corporation, insured losses have exceeded $100 billion for the fifth year in a row.
