Uninflated, inflated (2020 prices) and normalised economic losses from natural catastrophes, USD billion

The annual growth rate of normalised losses from natural catastrophes on a 10-year moving average basis between 1970 and 2020 was 1.3%. Normalisation adjusts to show that an event in the past, if it were to occur in today's world of higher levels of asset values, would cause more damage. This is due to the accumulation of human and economic value (physical assets) in the intervening years.

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Note: normalised by GDP (country real GDP + US inflation); loss-data quality prior to 1990 poor.

Source: Swiss Re Institute