June 10th, 2015

Review – EMEA and Asia Pacific Cat Losses – 2014

Posted at 1:00 AM ET

Here we review insured cat losses for Europe, the Middle East, Africa, Asia and Australasia in 2014. 

1. Insured Cat Losses - Europe/Middle East/Africa - 2014: Insured losses for the regions encompassing Europe, the Middle East and Africa accounted for around 21 percent of global insured losses in 2014. The most significant events included the severe convective outbreak (hail and windstorm Ela) that affected areas including Germany, France, Belgium and Austria. A frontal boundary crossing the area initiated severe thunderstorms and supercells. The thunderstorms inflicted damaging wind gusts and hail over a widespread area with reports of hail exceeding seven centimeters (2.8 inches) in diameter and isolated reports of hailstones as large as 12 centimeters (4.7 inches). Estimated insured losses from this event were around USD2.8 billion.

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2.  Insured Cat Losses - Asia/Australasia - 2014: Asia and Australasia endured their share of both natural and man-made catastrophes in 2014 with 23 percent of estimated global insured losses in 2014. Notable events in the region included the disappearance of Malaysian Airlines Flight 370 in the first quarter and the crash of AirAsia Flight 8501 near Indonesia in December.

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