Fewer lives were lost to natural disasters last year at 27,000, compared with an average 73,000 a year between 1980 and 2010.

But monetary losses touched a record $380 billion last year, with Asia alone accounting for $265 billion, says a Worldwatch Institute report, which analysed data by Munich Reinsurance Company.

“This is the highest figure ever recorded in Munich Re's database of natural catastrophes, and it surpasses the previous record of $220 billion in 2005,” the report says.

Two major natural catastrophes in Asia made all the difference, says the report. The earthquake followed by a tsunami and nuclear disaster in Japan in March, and the floods in Thailand in August-November.

Insured losses

In Japan, the overall losses (excluding the Fukushima nuclear disaster) were estimated at $210 billion, of which, $35-40 billion was insured. Munich Re placed the overall losses in Thailand at $40 billion and about $10 billion in insured losses.

Insured losses also reached a record high of $105 billion. “Last year, some 61 per cent of the overall losses and 47 per cent of the insured losses were caused by geophysical events,” the report says.

This is significantly higher than the long-term loss pattern since 1980, where on average only 22 per cent of overall losses and 10 per cent of insured losses were due to geophysical events.

In fact, 91 per cent of natural disasters were weather-related.

According to the report, weather-related events accounted for 39 per cent and 53 per cent, respectively, of overall and insured losses last year, compared with the long-term averages of 78 per cent and 90 per cent. Hence, last year was the second costliest year for weather-related disasters since 1980, after taking inflation into account.

> aditi.n@thehindu.co.in

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