Natural disasters around the globe cost the world economy $71 billion (€62 billion) in just the first half of this year, reinsurer Swiss Re said on Thursday.
The cost compared to the same period last year was up by 38%.
Of the total, only $3 billion was due to man-made calamities with the remaining $68 billion caused by natural events.
At the same time, the human toll of these tragedies reduced by half, with some 6,000 deaths recorded for the first six months of 2016. In the corresponding period of 2015, the loss of life totalled 12,000.
Thunderstorms which hit both the US and Europe were the most expensive disasters during the period, Swiss Re said. More than $7 billion was accrued by three separate severe weather storms in different US states, including costs of $3 billion due to widespread damage in Texas from massive hailstones.
In Europe, heavy storms at the end of May and again in early June caused flash floods in parts of France and Germany, leaving behind felled trees and power cables, disabled rail lines and roads.
The total insured losses from those storms and floods in Europe were $2.8 billion, Swiss Re said.
A series of deadly earthquakes in April in Japan caused the death of 64 people as well as extensive structural harm, collapsed buildings and fires. Swiss Re said these cost $5.6 million.
Another earthquake, this time 7.3-magnitude in Ecuador, claimed 668 lives and destroyed property. This proved the deadliest disaster during the period, but owing to low insurance coverage, insured losses came to just $400 million.
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