Disasters claimed 10,000 lives, cost $158 billion in 2016: Swiss Re

More than 10,000 people died as a result of natural and man-made disasters during 2016, with financial losses totalling at least $158 billion, Swiss Re said on Thursday.

At an estimated $49 billion, insured losses rose by nearly a third from $37 billion in 2015, but covered less than a third of the costs incurred from catastrophes over the year.

“The gap between total losses and insured losses in 2016 shows that many events took place in areas where insurance coverage was low,” Swiss Re said in a statement.

Hurricane Matthew was 2016’s deadliest natural catastrophe, Swiss Re said, claiming up to 733 lives, primarily in Haiti.