(Frankfurt) The 2024 tropical cyclone season has been exceptional, with violent storms causing record losses well above the average of the last ten years, according to estimates by reinsurer Munich Re.
Posted at 6:40 a.m.
Tropical cyclones in the North Atlantic (hurricanes) and the Northwest Pacific (typhoons) caused approximately $133 billion in total losses, including $51 billion insured, Munich Re said in a statement on Monday.
These figures far exceed the averages of the last 10 years, which amount to 89.2 billion dollars in losses, including 35.1 billion insured.
The 2024 losses are among the highest in the decade, behind 2017, according to the reinsurer.
At the end of September, the hurricane Helene hit Florida with winds of 225 km/h, causing record rains, flooding causing 200 deaths and losses estimated at 56 billion dollars, the costliest disaster of the year, including 16 billion insured.
In question, “exceptionally high sea surface temperatures intensified storms, once again highlighting the impact of climate change”, analyzes Munich Re.
These record temperatures recorded in the North Atlantic and the Gulf of Mexico in 2024 have favored a rapid intensification of cyclones.
For example, Miltonwhich hit Florida in October, went from a tropical storm to a Category 5 hurricane in one day.
This hurricane caused total losses estimated at around 38 billion US dollars, including 25 billion insured, making it “the most expensive storm of the year for insurers”, specifies Munich Re.
In Asia, the typhoon Yagi struck the Philippines, China and Vietnam in early November, where it caused record destruction and caused more than 400 deaths in Burma. Total losses amounted to 14 billion dollars, including 1 billion insured.
Climate change strengthens the intensity of tropical cyclones and increases their precipitation, summarizes the reinsurer.
Pour Miltonstudies found that its extreme rainfall was twice as likely and 40% greater in strength in today’s climate than in a hypothetical world without climate change.
