Current Table

Top 10 Costliest World Insurance Losses, 1970-2016 (1)

(2016 $ millions)

Rank Date Country Event Insured loss
1 Aug. 25, 2005 U.S., Gulf of Mexico Hurricane Katrina, storm surge, damage to oil rigs $80,699
2 Mar. 11, 2011 Japan Earthquake (Mw 9.0) triggers tsunami 37,344
3 Oct. 24, 2012 U.S., Caribbean, Canada Hurricane Sandy, storm surge 30,141
4 Aug. 23, 1992 U.S., Bahamas Hurricane Andrew, floods 27,368
5 Sep. 11, 2001 U.S. Terror attacks on WTC, Pentagon and other buildings 25,456
6 Jan. 17, 1994 U.S. Northridge earthquake (Mw 6.7) 24,773
7 Sep. 6, 2008 U.S., Gulf of Mexico, Caribbean Hurricane Ike, floods, damage to oil rigs 22,577
8 Feb. 22, 2011 New Zealand Earthquake (Mw 6.1), aftershocks 17,072
9 Sep. 2, 2004 U.S., Caribbean, Venezuela Hurricane Ivan, damage to oil rigs 16,417
10 Jul. 27, 2011 Thailand Heavy monsoon rains, extreme flooding  16,005

(1) Property and business interruption losses, excludes life and liability losses. Includes flood losses in the United States insured via the National Flood Insurance Program. Adjusted to 2016 dollars by Swiss Re.

Note: Loss data shown here may differ from figures shown elsewhere for the same event due to differences in the date of publication, the geographical area covered and other criteria used by organizations collecting the data.

Source: Swiss Re, sigma, No. 2/2017.

 
THE TEN MOST COSTLY WORLD INSURANCE LOSSES, 1970-2008 (1)

($ millions)

Rank Date Country Event Insured loss in 2008 U.S. dollars (2)
1 Aug. 25, 2005 U.S., Gulf of Mexico, Bahamas, North Atlantic Hurricane Katrina; floods, dams burst, damage to oil rigs $71,300

 

2 Aug. 23, 1992 U.S., Bahamas Hurricane Andrew; floods 24,552

 

3 Sep. 11, 2001 U.S. Terror attacks on WTC, Pentagon and other buildings 22,835
4 Jan. 17, 1994 U.S. Northridge earthquake (magnitude 6.6) 20,337

 

5 Sep. 9, 2008 U.S., Caribbean: Gulf of Mexico et al. Hurricane Ike; floods, offshore damage 20,000

 

6 Sep. 2, 2004 U.S., Caribbean: Barbados et al. Hurricane Ivan; damage to oil rigs 14,680

 

7 Oct. 19, 2005 U.S., Mexico, Jamaica, Haiti et al. Hurricane Wilma; torrential rain, floods 13,847

 

8 Sep. 20, 2005 U.S., Gulf of Mexico, Cuba Hurricane Rita; floods, damage to oil rigs 11,122

 

9 Aug. 11, 2004 U.S., Cuba, Jamaica et al. Hurricane Charley; floods 9,176

 

10 Sep. 27, 1991 Japan Typhoon Mireille/No. 19 8,926

 

(1) Property and business interruption losses, excluding life and liability losses. Includes flood losses in the United States insured via the National Flood Insurance Program.
(2) Adjusted to 2008 dollars by Swiss Re.

Note: Loss data shown here may differ from figures shown elsewhere for the same event due to differences in the date of publication, the geographical area covered and other criteria used by organizations collecting the data.

Source: Swiss Re, sigma, No. 2/2009.
 
THE TEN MOST COSTLY WORLD INSURANCE LOSSES, 1970-2009 (1)

($ millions)

Rank Date Country Event Insured loss in
2009 U.S. dollars (2)
1 Aug. 25, 2005 U.S., Gulf of Mexico, Bahamas, North Atlantic Hurricane Katrina; floods, dams burst, damage to oil rigs $71,163
2 Aug. 23, 1992 U.S., Bahamas Hurricane Andrew; floods 24,479
3 Sep. 11, 2001 U.S. Terrorist attacks on WTC, Pentagon and other buildings 22,767
4 Jan. 17, 1994 U.S. Northridge earthquake (magnitude 6.6) 20,276
5 Sep. 9, 2008 U.S., Caribbean: Gulf of Mexico, et al. Hurricane Ike; floods, offshore damage 19,940
6 Sep. 2, 2004 U.S., Caribbean: Barbados, et al. Hurricane Ivan; damage to oil rigs 14,642
7 Oct. 19, 2005 U.S., Mexico, Jamaica, Haiti, et al. Hurricane Wilma; torrential rain, floods 13,807
8 Sep. 20, 2005 U.S., Gulf of Mexico, Cuba Hurricane Rita; floods, damage to oil rigs 11,089
9 Aug. 11, 2004 U.S., Cuba, Jamaica, et al. Hurricane Charley; floods 9,148
10 Sep. 27, 1991 Japan Typhoon Mireille/No.19 8,899

(1) Property and business interruption losses, excluding life and liability losses. Includes flood losses in the United States insured via the National Flood Insurance Program.
(2) Adjusted to 2009 dollars by Swiss Re.

Note: Loss data shown here may differ from figures shown elsewhere for the same event due to differences in the date of publication, the geographical area covered and other criteria used by organizations collecting the data.

Source: Swiss Re, sigma, No.1/2010.

 
THE TEN MOST COSTLY WORLD INSURANCE LOSSES, 1970-2010 (1)

($ millions)

Rate Date Country Event Insured loss in 2010
U.S. dollars (2)
1 Aug. 25, 2005 U.S., Gulf of Mexico,
Bahamas, North Atlantic
Hurricane Katrina; floods, dams burst,
damage to oil rigs
$72,302
2 Aug. 23, 1992 U.S., Bahamas Hurricane Andrew: floods 24,870
3 Sep. 11, 2001 U.S. Terror attacks on WTC, Pentagon
and other buildings
23,131
4 Jan. 17, 1994 U.S. Northridge earthquake (M 6.6) 20,601
5 Sep. 6, 2008 U.S., Caribbean: Gulf of
Mexico et al.
Hurricane Ike; floods, offshore damage 20,483
6 Sep. 2, 2004 U.S., Caribbean; Barbados et al. Hurricane Ivan; damage to oil rigs 14,876
7 Oct. 19, 2005 U.S., Mexico, Jamaica, Haiti et al. Hurricane Wilma; floods 14,028
8 Sep. 20, 2005 U.S., Gulf of Mexico, Cuba Hurricane Rita; floods, damage to oil rigs 11,266
9 Aug. 11, 2004 U.S., Cuba, Jamaica et al. Hurricane Charley; floods 9,295
10 Sep. 27, 1991 Japan Typhoon Mireille/No. 19 9,041

(1) Property and business interruption losses, excluding life and liability losses. Includes flood losses in the United States insured via the National Flood Insurance Program.
(2) Adjusted to 2010 dollars by Swiss Re.

Note: Loss data shown here may differ from figures shown elsewhere for the same event due to differences in the date of publication, the geographical area covered and other criteria used by organizations collecting the data.

Source: Swiss Re, sigma, No. 1/2011.

 
THE TEN MOST COSTLY WORLD INSURANCE LOSSES, 1970-2011 (1)

($ millions)

Rate Date Country Event Insured loss in 2011  U.S. dollars (2)
1 Aug. 25, 2005 U.S., Gulf of Mexico,
Bahamas, North Atlantic
Hurricane Katrina; floods, dams burst, damage to oil rigs $74,686
2 Mar. 11, 2011 Japan Earthquake (Mw 9.0) triggers tsunami; aftershocks 35,000
3 Aug. 23, 1992 U.S., Bahamas Hurricane Andrew; floods 25,641
4 Sep. 11, 2001 U.S. Terror attacks on WTC, Pentagon and other buildings 23,848
5 Jan. 17, 1994 U.S. Northridge earthquake (M 6.6) 21,239
6 Sep. 6, 2008 U.S., Caribbean:
Gulf of Mexico et al.
Hurricane Ike; floods, offshore damage 21,141
7 Sep. 2, 2004 U.S., Caribbean;
Barbados et al.
Hurricane Ivan: damage to oil rigs 15,350
8 Oct. 19, 2005 U.S., Mexico, Jamaica,
Haiti et al.
Hurricane Wilma; floods 14,468
9 Jul. 27, 2011 Thailand Flood caused by heavy monsoon rains 12,000
10 Feb. 22, 2011 New Zealand Earthquake (Mw 6.3), aftershock (Mw 5.6) 12,000

(1) Property and business interruption losses, excluding life and liability losses. Includes flood losses in the United States insured via the National Flood Insurance Program.
(2) Adjusted to 2011 dollars by Swiss Re.

Note: Loss data shown here may differ from figures shown elsewhere for the same event due to differences in the date of publication, the geographical area covered and other criteria used by organizations collecting the data.

Source: Swiss Re, sigma, No. 2/2012.

 
THE TEN MOST COSTLY WORLD INSURANCE LOSSES, 1970-2013 (1)

(2013 $ millions)

Rank Date Country Event Insured loss (2)
1 Aug. 25, 2005 U.S., Gulf of Mexico,
Bahamas, North Atlantic
Hurricane Katrina, storm surge, levee failure,
damage to oil rigs
$80,373
2 Mar. 11, 2011 Japan Earthquake (Mw 9.0) triggers tsunami, aftershocks 37,665
3 Oct. 24, 2012 U.S., et al. Hurricane Sandy, storm surge 36,890
4 Aug. 23, 1992 U.S., Bahamas Hurricane Andrew, floods 27,594
5 Sep. 11, 2001 U.S. Terror attacks on WTC, Pentagon
and other buildings
25,664
6 Jan. 17, 1994 U.S. Northridge earthquake (M 6.6) 22,857
7 Sep. 6, 2008 U.S., Caribbean: Gulf of
Mexico, et al.
Hurricane Ike, floods, offshore damage 22,751
8 Sep. 2, 2004 U.S., Caribbean; Barbados, et al. Hurricane Ivan, damage to oil rigs 17,218
9 Jul. 27, 2011 Thailand Floods caused by heavy monsoon rains 16,519
10 Feb. 22, 2011 New Zealand Earthquake (Mw 6.3), aftershocks 16,142

(1) Property and business interruption losses, excludes life and liability losses. Includes flood losses in the United States insured via the National Flood Insurance Program.
(2) Adjusted to 2013 dollars by Swiss Re.

Note: Loss data shown here may differ from figures shown elsewhere for the same event due to differences in the date of publication, the geographical area covered and other criteria used by organizations collecting the data.

Source: Swiss Re, sigma, No. 1/2014.