U.S. severe weather and Chile wildfires have led January’s catastrophe loss events, with U.S. weather losses exceeding $1 billion and Chile following with $890 million in losses after its worst wildfire event in modern history.
Aon Benfield’s monthly Global Catastrophe report has released figures for January, revealing a month of heavy losses for the re/insurance industry; Southern U.S. states were hit by 130 tornadoes – the highest number since 1999 – and consecutive winter storms caused extreme precipitation across the US West, resulting in combined losses of over $1 billion.
The severe wildfires in Chile alone came close to U.S. losses, with preliminary estimated damage and firefighting costs at $890 million after the country experienced its worst wildfire event in its modern history.
Chile wildfire photo from terra-chile
At least 11 people died in the wildfires which consumed an estimated 2,500 structures and vehicles, and more than 420,000 hectares (1.1 million acres) of land nationwide.
Steve Bowen, Impact Forecasting director and meteorologist, said; “January proved to be a highly active month for global natural hazards compared to recent years, especially when we look at the events in the US, where the powerful thunderstorms and winter storms had a devastating effect on people and communities, as well as causing a significant economic loss for country.”
Other severe natural catastrophe events were felt in Asia, most prominently in Thailand, where economic losses came to $US 860 million after exceptional rainfall killed at least 96 people, and inundated as many as 585,000 homes and other structures.
Malaysia suffered severe flooding, which led to more than 25,000 people’s evacuation, and the government citing combined economic losses at $US 132 million.
Across the UK, France and Germany, Windstorm Egon caused estimated insurable damages of over $US 170 million.
