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'Everybody pays price for weather'
The Citizen
|January 10, 2025
REPORT: CLIMATE CHANGE LOSSES AT R6 TRILLION
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Climate change fuelled natural disasters that caused $320 billion (about R6 trillion) in losses last year, German reinsurance giant Munich Re said yesterday, warning that "our planet's weather machine is shifting to a higher gear".
The amount of insured losses totalled $140 billion over the past 12 months, making 2024 the third-highest total since 1980, Munich Re said in a report.
The findings echoed similar figures from Swiss Re, the other leader of the reinsurance industry, which calculated overall losses of around $310 billion, of which $135 billion were insured.
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