EconomyLens.com
No Result
View All Result
Wednesday, July 30, 2025
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
EconomyLens.com
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials
No Result
View All Result
EconomyLens.com
No Result
View All Result
Home Economy

LA wildfires push insurance losses to highest since 2011: Munich Re

Andrew Murphy by Andrew Murphy
July 29, 2025
in Economy
Reading Time: 3 mins read
A A
2
20
SHARES
254
VIEWS
Share on FacebookShare on Twitter

Insurers took almost $80 billion of losses from natural disasters worldwide, Munich Re said. ©AFP

Frankfurt (Germany) (AFP) – The Los Angeles wildfires drove insured natural disaster losses in the first half of the year to their highest level since Japan’s Fukushima disaster in 2011, German reinsurance giant Munich Re said Tuesday. Insurers took almost $80 billion (69 billion euros) of losses from natural disasters worldwide, Munich Re said, the second-highest hit since 1980.

Related

Trump punishes Brazil with tariffs, sanctions over trial of ally Bolsonaro

Trump hits India with 25% tariff and ‘penalty’ over Russia ties

‘Class war’: outsiders moving to Puerto Rico trigger displacement

HSBC banks lower profits on higher costs

India exporters steel themselves as tariff clock ticks down

Wildfires around Los Angeles in January caused about $40 billion of the insured losses, said the group, which primarily covers insurers against their own risks — an all-time record for wildfire damage. The two enormous fires killed 31 people and destroyed more than 16,000 homes and buildings around the American city.

“Climate change is a fact and is changing life on Earth,” Munich Re board member Thomas Blunck said. “People, authorities and companies must all adapt to new circumstances.” Only the first half of 2011 saw higher insured losses, after a massive earthquake triggered a tsunami that left 18,500 people dead or missing and caused a devastating meltdown at the Fukushima nuclear plant in Japan.

Overall, there was $131 billion worth of damage worldwide if uninsured losses are included, Munich Re said, down from $155 billion in the first half of last year. Almost 90 percent of overall losses were weather-related, Munich Re said, with the figure rising to 98 percent for insured losses.

Numerous scientific studies conclude that climate change, caused by pollutants such as carbon dioxide emissions, increases the frequency and intensity of extreme weather events such as droughts and wildfires. Western Europe this year experienced its hottest June on record and Turkey on Saturday registered a nationwide temperature record of 50.5C.

© 2024 AFP

Tags: climate changenatural disasterswildfires
Share8Tweet5Share1Pin2Send
Previous Post

American Eagle ‘jeans’ campaign that stars Sydney Sweeney under fire

Next Post

US Fed holds firm against Trump pressure as divisions emerge

Andrew Murphy

Andrew Murphy

Related Posts

Economy

Mercedes-Benz welcomes EU-US deal after profits plunge on tariff woes

July 30, 2025
Economy

Ryanair says dropping three French airports over ‘harmful’ tax

July 30, 2025
Economy

Mercedes-Benz profit plunges on tariff, China woes

July 30, 2025
Economy

Could copper tariff hurt US more than Chile?

July 30, 2025
Economy

US says Trump has ‘final call’ on China trade truce

July 30, 2025
Economy

Chinese, US officials meet for 2nd day of trade talks in Stockholm

July 29, 2025
Next Post

US Fed holds firm against Trump pressure as divisions emerge

US second quarter GDP growth to reflect tariff turbulence

Five products to be hit by Trump's incoming tariffs

Stablecoins inspire hope, and hype, in Hong Kong

0 0 votes
Article Rating
Subscribe
Notify of
guest
guest
2 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
  • Trending
  • Comments
  • Latest

New York ruling deals Trump business a major blow

September 30, 2024

Elon Musk’s X fights Australian watchdog over church stabbing posts

April 21, 2024

Women journalists bear the brunt of cyberbullying

April 22, 2024

France probes TotalEnergies over 2021 Mozambique attack

May 6, 2024

Ghanaian finance ministry warns against fallout from anti-LGBTQ law

74

New York ruling deals Trump business a major blow

73

Shady bleaching jabs fuel health fears, scams in W. Africa

71

Stock markets waver, oil prices edge up

65

Trump punishes Brazil with tariffs, sanctions over trial of ally Bolsonaro

July 30, 2025

Tata Motors to buy Italy’s Iveco for $4.4 bn

July 30, 2025

Renault names Provost CEO after De Meo exit

July 30, 2025

Canada central bank holds rate steady citing US tariff ‘threats’

July 30, 2025
EconomyLens Logo

We bring the world economy to you. Get the latest news and insights on the global economy, from trade and finance to technology and innovation.

Pages

  • Home
  • About Us
  • Privacy Policy
  • Contact Us

Categories

  • Business
  • Economy
  • Markets
  • Tech
  • Editorials

Network

  • Coolinarco.com
  • CasualSelf.com
  • Fit.CasualSelf.com
  • Sport.CasualSelf.com
  • SportBeep.com
  • MachinaSphere.com
  • MagnifyPost.com
  • TodayAiNews.com
  • VideosArena.com
© 2025 EconomyLens.com - Top economic news from around the world.
No Result
View All Result
  • Home
  • Economy
  • Business
  • Markets
  • Tech
  • Editorials

© 2024 EconomyLens.com - Top economic news from around the world.