sigma

No. 3 / 1998

Natural catastrophes and major losses

in 1997: Exceptionally few high losses

Summary 3

Terms and compilation criteria used 4

Catastrophe year 1997: floods in 6

Eastern Europe, storms and floods in
the USA, typhoon in Vietnam

Developments since 1970: unbroken 8

trend of costly major losses

El Niño: the phenomenon and its 11

influence on extreme meteorological
events

Tables for report year 1997 14

Tables for the most costly and the 36

worst catastrophes 1970 –1997
Published by:
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Edited by:
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Rudolf Enz
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Jürg Trüb (Chapter on El Niño)
Telephone +41 1 285 36 90

Thomas Hess, Head of Economic Research,

is managing editor of the sigma series.

The editorial deadline for this study was 21 January 1998.

Although all information used in this study was taken from

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Summary

USD 6.7 billion insurance losses – In 1997, insured losses from natural and man-made catastrophes comprised
exceptionally few high losses
USD 6.7 billion. Adjusted to allow for inflation, this is around 50% less than
last year.1 This was mainly because no extremely costly natural or man-made
catastrophes occurred over the year. Losses were considerably higher than the
average for the years 1970–1988, but lower than the record years
1989–1996.

Lower total losses, but heavy In 1997, total losses from catastrophes amounted to USD 28.8 billion,
fatalities
approximately half of the previous year’s value. USD 24 billion of this was
due to natural hazards. In total, 22 000 people were killed in the 348 events
included in sigma. Natural catastrophes claimed 14 000 lives – typhoon
“Linda” alone resulted in 3 800 fatalities.

Costly floods in Eastern Europe – Natural catastrophes accounted for insured losses of USD 4.1 billion. The
USA has highest insurance losses
event that caused by far the highest single loss of USD 940 million was the
extensive flooding in Eastern Europe. The USA reported the highest insur-
ance losses of USD 3.1 billion mainly because of storms and floods.

Costly major fires and explosions Man-made disasters accounted for almost 40% of the recorded insurance
losses with USD 2.6 billion. Approximately a quarter of all losses resulted
from three fires and one explosion: fires in a silicon wafer factory in Taiwan,
an aircraft hangar in Belgium and in a spinning mill in Japan, and an explo-
sion at a gasworks in South Africa.

El Niño: regional increase in prob- The exceptionally powerful “El Niño” dominated both global meteorological
ability of extreme meteorological
events and the headlines in the report year. However, it caused considerably
events
fewer losses in 1997 than the last powerful El Niño in 1982/83. sigma explains
this climatic anomaly and provides an indication of the regions in which
El Niño changes the probability of extreme meteorological events.

1 All losses mentioned in this report are quoted at 1997 prices; see p. 5 for sigma compilation
criteria.

3 Swiss Re, sigma No. 3/1998

Terms and compilation
criteria used

Terms

Natural catastrophes The term “natural catastrophe” is taken to mean an event caused by natural
forces. Such an event generally results in many single losses involving various
insurance contracts and insured parties. The extent of damage caused by a
catastrophe depends not only on the severity of the natural forces involved,
but also on certain human factors such as methods of construction or the
efficiency of disaster protection measures in the region concerned. Addition-
ally, the role of chance may be significant where personal injury is concerned,
such as the time of day in the case of earthquakes. The following study
divides natural catastrophes into six categories:
– Floods
– Storms
– Earthquakes (incl. seaquakes and tsunami)
– Drought, bush fires (incl. heat waves)
– Cold, frost
– Other (incl. hail and avalanches)

Man-made disasters The report regards “man-made” or “technical” disasters to be those major
events which are connected with human activity. These usually involve a
large object in a limited space covered by only a few insurance policies. The
study divides man-made disasters into seven categories:
– Major fires, explosions
– Aviation disasters
– Shipping disasters
– Road/rail disasters
– Mining accidents
– Collapse of buildings/bridges
– Miscellaneous (incl. terrorism)

Loss statistics “Losses” comprise all insurance losses with the exclusion of third-party liabili-
ty. Dispensing with these claims allows, on the one hand, a relatively early
assessment of the insurance year, but leads, on the other hand, to an under-
estimation of the costs of man-made events. If no private or state insurance
cover is available, the published sum is then used as an estimate of total loss.

Compilation criteria

sigma has been publishing tables listing major losses since 1970. In order to
maintain consistency in the criteria used for compilation, the minimum
limit for damages is adjusted annually to compensate for inflation in the
USA. Limits with respect to personal injury – dead, missing, seriously
injured, homeless – furthermore allow the inclusion of events occurring in
countries with below average degrees of insurance cover.

4 Swiss Re, sigma No. 3/1998

1997 limits For the report year 1997, the lower loss limits were set as follows:

Insurance losses: shipping USD 12.7 million

aviation USD 25.4 million
other losses USD 31.7 million

Total losses: USD 63.5 million

Personal injury: dead and/or

missing 20
injured 50
homeless 2 000

Sources

Daily newspapers, primary insurance and reinsurance periodicals, specialist

publications (in printed or electronic format) as well as reports from primary
insurance and reinsurance companies provided the source for the choice of
events.2 Since it is impossible to include all occurrences, the sigma study
does not claim to be comprehensive.

2 Natural catastrophes in the USA: the sigma figures based on estimates from the Property
Claims Service (PCS) are given for each individual event in ranges defined by the PCS, as the
PCS wishes to prevent its exact figures from being used by unauthorized third parties. PCS
contact address: American Insurance Services Group (AISG), 85 John Street, New York,
NY 10038.

5 Swiss Re, sigma No. 3/1998

Catastrophe year 1997: floods in
Eastern Europe, storms and floods
in the USA, typhoon in Vietnam

1997 survey

Insured losses down 50% on last Losses for 1997 amounted to USD 6.7 billion. Adjusted to allow for inflation,
year – few very high losses
this is around 50% less than last year.3 This is mainly because no extremely
costly natural or man-made disasters occurred over the year. Losses were con-
siderably higher than the average for the years 1970–1988, but lower than
the record years 1989–1996.

Low total losses worldwide – high In 1997, total losses from the events included in sigma amounted to USD
losses in Eastern Europe and Italy
28.8 billion, of which natural catastrophes accounted for USD 24 billion.
The highest total loss was a result of the flooding in Eastern Europe
(USD 5 billion). The second highest resulted from the earthquakes in Italy
(USD 4.5 billion). This figure may be considered to be relatively low, bearing
in mind that the Great Hanshin earthquake alone created losses in excess of
USD 80 billion in 1995.

Heavy fatalities worldwide – The 348 events included in sigma claimed over 22 000 lives. Two-thirds were
typhoon in Vietnam, floods in
killed as a result of natural catastrophes: almost 5 000 were killed in storms,
East Africa, earthquake in Iran
the same number in floods and 3 000 in earthquakes. Typhoon “Linda” in
Vietnam was the most severe storm with over 3 800 fatalities. There were
also devastating natural catastrophes in East Africa and Iran. Persistent rain
in Somalia, Kenya and Ethiopia caused widespread flooding resulting in
1 600 fatalities. El Niño often causes above average rainfall in this region.4
Iran was affected by several severe earthquakes in the report year. On 10
May, the most severe earthquake (7.1 on the Richter scale) destroyed around
170 villages killing 1 500 people. The following provides a brief description
of other important catastrophes in the report year.5

Highest insurance loss in Eastern The highest insurance loss resulted from the flooding in Eastern Europe
Europe – no billion-dollar losses
(USD 940 million), followed by the storm damage caused at Christmas in
worldwide
Great Britain (USD 500 million). There was not a single billion-dollar loss in
1997.6 The probability of hurricanes on the East Coast of the USA decreases
during El Niño and in 1997, the East Coast actually avoided any highly cost-
ly storms. The highest loss in the USA in the report year cost the insurance
industry USD 300 million.

3 The 1996 insurance losses were later changed from USD 12.3 billion to USD 13.2 billion (1996
prices), as the insurance losses from the floods which hit the USA in the period 26.12.96–1.1.97
and from several other events were still outstanding when sigma no. 3/1997 went to print.
4 For details of El Niño, see p. 11 – 13.
5 Tables for 1997: Table 2 on p. 14 provides a summary of major losses according to category.
Table 3, starting on p. 15, lists the individual events in chronological order. For details of the
20 events in 1997 with the most costly losses and those with the most fatalities, see Tables 4
and 5 on p. 34 and 35.
6 sigma has recorded at least one billion-dollar loss every year worldwide in the period 1989–1996;
the USA alone incurred at least one billion-dollar loss in 1989 and every year in the period
1991–1996 (1997 prices).

6 Swiss Re, sigma No. 3/1998

Costly fires and explosions In 1997, the insurance industry was faced with a loss burden of USD 638 mil-
lion as a result of three major fires and one explosion: fires in a spinning mill
in Japan, a silicon wafer factory in Taiwan and an aircraft hangar in Belgium,
and an explosion at a gasworks in South Africa.7

Insured losses concentrated in the As in previous years, most insured losses reported in the sigma statistics were
USA and Europe
in the USA (see Table 1 below). Storms, floods and freezing weather account-
ed for the largest part of the USD 3.1 billion claims burden and the USA’s
46% share of all insurance losses worldwide. Asia accounted for only 13% of
the world total.

Regional divide concerning risk Table 1 shows the geographical divide between exposure to catastrophe and
and degree of insurance
degree of insurance. Asia suffers from high risk, as half of all events and
almost three-quarters of all fatalities arising from catastrophes in the year of
the report were concentrated there. The region’s low degree of insurance
cover, however, means low insurance losses for that area. The opposite applies
to the USA and Europe. The high degree of insurance there means that insured
losses are high despite a lower exposure to catastrophes.

Table 1 Region/country No. % Victims % Insured %

1997 catastrophes according losses
to regions or countries (in USD
millions)
Europe 45 13 796 4 2 056.4 31
of which UK 7 2 48 0 500.0 7
America 76 22 2 475 11 3 087.0 46
of which USA 38 11 506 2 3 073.0 46
Asia 185 53 16 029 72 857.7 13
of which Japan 4 1 23 0 100.0 1
Africa 31 9 2 821 13 197.7 3
Oceania 2 1 52 0 0.0 0
World oceans/space 9 3 142 1 495.4 7

World 348 100 22 315 100 6 694.2 100

7 It was not possible to estimate the losses caused by an explosion at a gas liquefaction plant in
Malaysia before sigma went to print, although they are expected to be very high.

7 Swiss Re, sigma No. 3/1998

Developments since 1970:
unbroken trend towards
costly major losses

General trend 1970–1997

More catastrophes – more people Since 1970, the number of natural and man-made catastrophes recorded in
and property in areas at risk
sigma has risen continuously. This is due, on the one hand, to the more
detailed information available. On the other hand, the increase can be attrib-
uted to a higher damage potential:
– higher density of population
– more assets insured in hazard areas
– higher concentration of assets in industrialized nations

Prevention measures and higher deductibles do, however, provide some coun-
terbalance.

No evidence of the influence of To date there is no general scientific evidence of any significant change in the
climatic change, but still a factor
frequency of events. However, a distinction needs to be drawn between cur-
in future risk assessments
rent scientific knowledge and assessment of future risks. A suspected climatic
change leads to an increase in the uncertainty related to the level of claims.
The insurance industry must, in its future scenarios, take into consideration
the possibility of a higher average claims burden with substantial fluctuations
from year to year. This increase in uncertainty may lead to higher premium
rates.

Figure 1 Number
Number of events 1970–1997
250

200

150

100

50

0 1970 72 74 76 78 80 82 84 86 88 90 92 94 96

Natural catastrophes Man-made catastrophes

Number of victims varies widely The number of fatalities due to natural catastrophes varies considerably from
year to year. The exceptionally high numbers in the years 1970, 1976 and
1991 were due to two tropical cyclones in Bangladesh and an earthquake in
China. The most tragic event of 1997, ie typhoon “Linda”, is 28th on the
list of the 40 worst disasters in the period 1970–1997.8

8 For the 40 worst catastrophes in terms of fatalities 1970–1997, see Table 7, p. 37.

8 Swiss Re, sigma No. 3/1998

Figure 2 Number
Major fluctuations in the number
1000000
of victims 1970–1997

100000

10000

1000 70 72 74 76 78 80 82 84 86 88 90 92 94 96

Natural catastrophes Man-made catastrophes

No change in probability of The insurance industry’s 1997 claims bill was 50% lower than in the previous
extreme meteorological events
year. The most costly event in this year, ie the floods in Eastern Europe, is
despite low losses over the year
only 36th on the list of the 40 most costly insurance losses in the period
1970–1997.9 However, the 1997 claims burden is still above average when
compared with the years 1970–1988. Unlike subjective perception, the prob-
ability of extreme meteorological events of such severity as Hurricane “Andrew”
or the Northridge earthquake remains unchanged, even after several years
with low losses!

Figure 3 USD billion at 1997 prices

Insurance losses 1970–1997
30

20

10

0 1970 72 74 76 78 80 82 84 86 88 90 92 94 96

Natural catastrophes Man-made catastrophes

9 For the 40 most costly insurance losses 1970–1997, see Table 6, p. 36.

9 Swiss Re, sigma No. 3/1998

 Most costly insurance losses: storms, major fires, aviation disasters and
earthquakes

Storms: usually the most costly The average insurance losses over the sigma observation period of 28 years
causes of damage
amount to USD 9.3 billion per year. A good two-thirds of these losses are a
result of natural events and one-third is due to man-made disasters. Storms
have been the most costly causes of damage in almost all years. An average
of 46% of the claims burden is caused by wind damage. In the 1997 report
year, storms were again by far the most costly causes of damage (36% of all
losses).

Major fires: the most costly Major fires have been the second most costly causes of damage over this
man-made disasters
observation period, resulting in an average of 16% of all losses. In absolute
terms, these man-made disasters have cost between USD 1.3 and 3.9 billion
every year since 1986. A considerably lower proportion of all insurance losses
are from aviation disasters (8.4%) and earthquakes (8.1%) with average losses
per year of USD 784 million and USD 754 million respectively over the
period 1970–1997.

Figure 4 USD billion at 1997 prices

Proportion of insurance losses 35
from storms, major fires and
aviation disasters 1970–1997
30

25

20

15

10

0 1970 72 74 76 78 80 82 84 86 88 90 92 94 96

Storms Major fires Aviation disasters Other

10 Swiss Re, sigma No. 3/1998

El Niño: the phenomenon
and its influence on extreme
meteorological events

The physical occurrence ...

Exceptionally powerful El Niño In 1997, “El Niño” dominated global meteorological events and consequent-
ly also the headlines. The most recent El Niño is an exceptionally strong
occurrence.10 As a result, many natural catastrophes have been linked to this
phenomenon, but how well do we actually understand El Niño and its
effects?

The normal situation: body of Normally, the circulation of water and air in the tropical Pacific Ocean
warm water in the Indonesia/New
is affected by ocean currents near the sea surface, which are spread by
Guinea region
easterly trade winds. As a result, the warmer surface water collects in the
Indonesia/New Guinea region and is continuously replaced with cold water
from deeper layers off the coast of Peru. This produces water temperatures
of about 29–30°C in the western part and 22–24°C in the eastern part of
the tropical Pacific Ocean. The temperature above this body of warm water
increases considerably leading to intensive tropical precipitation. In contrast
to this, the Eastern Pacific area, ie off the coast of Latin America, is very dry.

The climatic anomaly: body of This equilibrium is disrupted every three to six years. The body of warm
warm water moved to area off the
water in the Indonesia/New Guinea region spreads eastwards to the coast of
coast of Latin America
Latin America, where it usually causes the sea surface temperature to rise
by 5 or 6°C. This usually happens just before Christmas, hence the name
“El Niño”, ie the Christ Child. The area affected by intensive tropical pre-
cipitation changes along with this transfer of the warm ocean currents. The
trade winds become weaker due to a change in the atmosphere pressure dis-
tribution within the tropical Pacific Ocean region and, for a short time, are
replaced by westerly winds. El Niño lasts approximately one to two years
and is followed by a phase called “La Niña”, which involves a reversal of the
circulation of water and air.

ENSO: fluctuations in water tem- The oscillations in water temperatures (El Niño) and air pressure (Southern
peratures and air pressure affect
Oscillation) called “ENSO”, lead to changes in both typical air circulation
precipitation and temperatures
and precipitation patterns, and in temperature distribution worldwide.

... its climatic effects ...

Although the worldwide effects of El Niño are not yet understood in detail,
the following climatic anomalies were ascertained during El Niño occur-
rences:

10 The 1997/1998 El Niño is not yet over, but it is already showing signs of being the most power-
ful occurrence since the observation period began in 1870.

11 Swiss Re, sigma No. 3/1998

Figure 5
Climatic anomalies: wet/dry

Wet
Dry

Too wet Above average precipitation along the coast and in southeastern parts of
South America, in Southern/Central Europe, in parts of East Africa, Vietnam
and Central China, in Southern Japan, the North Western USA and the Gulf
states of the USA, and in Northern Mexico.

Too dry Below average precipitation in South East Asia and parts of Australia, in
northern parts of South America and the Caribbean, in the Sahel Zone,
Southern Africa, India and parts of Northern China.

Figure 6
Climatic anomalies: warm/cold

Warm
Cold

Too warm Above average temperatures in South East Asia and India, in New Guinea
and both northern and southeastern parts of Australia, in Japan, Alaska,
Northwest and Eastern Canada, the Caribbean, northern parts of South
America and in Southern Africa.

Too cold Below average temperatures in the Gulf of Mexico and in northern parts of
Australia.

12 Swiss Re, sigma No. 3/1998

 ... and possible consequences for the insurance industry

More tropical cyclones – but The climatic anomalies recorded during El Niño produce a change in the
impossible to predict extent of
probability of extreme meteorological events, for example, an increase in the
damage
number of tropical cyclones recorded in the Eastern Pacific region. However,
the essential factors which influence the extent of any damage, such as the
exact position of a storm, are not linked to El Niño, but are rather a conse-
quence of the local weather situation during the extreme meteorological
event. In this respect, the climatic anomalies recorded during El Niño do
change the probability of natural catastrophes in certain regions, but they are
only one of many factors which affect the extent of occurrence loss.

An overview of the change in the probability of natural hazards as a result of

El Niño:

More tropical cyclones Increased probability of tropical cyclones in the North East Pacific region
and in parts of the South Pacific.

Fewer tropical cyclones Reduced probability of tropical cyclones in the Caribbean, on the East Coast
of the USA and in the North West Pacific region.

More floods Increased probability of flooding in parts of the Pacific Coast region of South
America, in East Africa, and in parts of Europe and the USA.

More drought Increased probability of fires as a result of extreme dryness in South East
Asia, parts of Australia and northern parts of South America. Increased prob-
ability of drought in the Sahel Zone and in southern parts of Africa.

Influence of El Niño on meteo- Exceptionally low insurance losses from storms in the USA in the
rological events in 1997:
summer/autumn, as no strong hurricanes hit the East Coast;
Severe flooding in East Africa, flooding and landslides in Peru in the fourth
quarter of 1997 following above average rainfall;
Problems with extreme smog (haze) in South East Asia where the monsoon
rains did not come to extinguish the fires from local fire clearing as they
usually do.

Outcome for the insurance industry

Extreme meteorological events On the basis of current knowledge, major losses in the past can be neither
should be given the utmost
attributed definitely to El Niño events, nor reliable future El Niño loss sce-
attention
narios be produced. Primary insurers and reinsurers must, however, give their
utmost attention to extreme meteorological events.

13 Swiss Re, sigma No. 3/1998

Tables for report year 1997

Table 2
List of major losses in 1997 according
to loss category

Number as %11 Victims12 as %11 Insured losses13 as %11

USD millions
Natural catastrophes
10 All natural catastrophes 122 35.1 14 384 65.6 4 140.6 61.9
11 Floods 48 4 950 1 420.4
12 Storms 42 5 315 2 460.1
13 Earthquakes 16 2 878 12.1
14 Drought, bush fires 5 667 0.0
15 Cold, frost 7 417 168.0
16 Other 4 157 80.0

Man-made disasters
All man-made disasters 226 64.9 7 931 34.4 2 553.6 38.1
20 Major fires, explosions 40 11.5 1 054 4.6 1 543.4 23.1
21 Industry, warehouses 22 119 1 206.6
22 Oil, gas 4 57 258.8
23 Hotels 4 167 10.5
24 Department stores 1 3 0.0
25 Other buildings 9 708 67.5
26 Other 0 0 0.0
30 Aviation disasters 32 9.2 1 396 6.1 932.1 13.9
31 Crashes 18 1 289 220.1
32 Explosions, fires 0 0 0.0
33 Damage on ground 5 0 217.8
34 Air collisions 2 106 0.0
35 Space 6 0 494.2
36 Other 1 1 0.0
40 Shipping disasters 36 10.3 1 894 8.2 36.2 0.5
41 Freighters 7 219 36.2
42 Passenger ships 23 1 499 0.0
43 Tankers 2 1 0.0
44 Drilling platforms 0 0 0.0
45 Other 4 175 0.0
50 Road/rail disasters 76 21.8 2 247 9.7 6.6 0.1
51 Buses, trucks 59 1 822 0.0
52 Rail 12 357 6.6
53 Major pile-ups 4 12 0.0
54 Other 1 56 0.0
60 Mining accidents 12 3.4 583 2.5 0.0 0.0
70 Collapse of buildings/bridges 8 2.3 206 0.9 0.0 0.0
80 Miscellaneous 22 6.3 551 2.4 35.3 0.5
81 Terrorism, social unrest 15 434 35.3
82 Other 7 117 0.0

Total 348 100.0 22 315 100.0 6 694.2 100.0

11 Percentage per event group of total

12 Dead or missing
13 Excl. liability

14 Swiss Re, sigma No. 3/1998

Table 3
Natural catastrophes and major losses 1997
(in chronological order according to loss category)

Natural catastrophes
Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

1.1. – 6.1. Brazil Flooding and landslides 70 dead

Minas Gerais, Rio de following heavy rain 37 000 homeless
Janeiro
4.1. – 11.1. USA Snowstorms and cold spells 31 dead
ND, SD, MN USD 2m total damage
21.1. Bangladesh Cold spells in the north at least 33 dead
Dinajpur
21.1. China Two earthquakes (6.4 and 6.3 on 50 dead
Xinjiang, Jiashi the Richter scale); 9 500 homes 200 injured
destroyed and 20 000 damaged
23.1. Brazil Floods, landslides and collapse of at least 20 dead
Parana, Sao Paulo bridge following bad weather 5 000 homeless
24.1. Madagascar Tropical cyclone “Gretelle" 200 dead
destroys 90% of the villages in the 30 000 homeless
southeast of the country
24.1. USA Series of tornadoes 1 dead
AL, TN, Murfreesboro, 18 injured
Rutherford County, USD 25-100m PCS insured
Smyrna damage14
25.1. – 28.1. USA Rain, storms, floods USD 245m total damage
CA, NV and landslides; losses to agriculture
4.2. Iran Two earthquakes (5.4 and 6.1 on at least 79 dead
Khorasan, the Richter scale) destroy 14 260 injured
Bodschnurd villages; 45 others are damaged
8.2. – 9.2. Madagascar Tropical cyclone "Josie"; rain; 34 dead
flooding particularly in the northwest
10.2. – 27.2. Malawi, Mozambique, Flooding following heavy at least 78 dead
Zimbabwe rain 385 000 homeless
Zambezi River Delta
18.2. – 19.2. Peru Landslides following persistent rain; at least 250 dead
Andes, Colcaqui (rio), two villages buried
Cochas, Pumarranra
20.2. – 22.2. USA Wind, hail and floods USD 25-100m PCS insured
IL, OH, TN, NY, GA damage
26.2. Peru Floods following thunderstorms at least 5 dead, 15 missing
Arequipa 3 000 homeless
27.2. – 28.2. USA Storm with wind speeds up to USD 25-100m PCS insured
NY 130 km/h; damage to buildings, damage
vehicles and infrastructure
28.2. – 3.3. USA Tornadoes, hail and at least 36 dead
TX, AR, MS, KY, floods 200 injured
TN, OH, WV, USD 101-300m PCS insured
Arkadelphia damage

14 Natural catastrophes in the US: insofar as the figures in sigma are based on estimates from the Property Claims Service (PCS), they are given for
each individual event in ranges defined by the PCS.

15 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

28.2. Iran Earthquake (5.5 on the Richter 965 dead

Ardabil scale) 400 km north of Tehran 2 600 injured
36 000 homeless
28.2. Pakistan Earthquake (7.3 on the Richter at least 50 dead
Baluchistan, Harnai scale) near Quetta; damage to 100 injured
infrastructure
4.3. – 6.3. USA Flooding along the Ohio River at least 31 dead
OH, KY, TN, GA, NC, USD 101-300m PCS insured
PA, NJ, NY , CT, RI, damage
ME USD 500m total damage
13.3. – 14.3. USA Wind, snow, frost, flooding USD 25-100m PCS insured
MI damage
23.3. Bangladesh Storms destroy homes and ships at least 11 dead
Bay of Bengal in coastal regions 101 injured
27.3. Afghanistan Avalanche buries pedestrians at least 100 dead
Mazar-e Sharif on the Salang highway
28.3. – 29.3. USA Tornadoes, hail and flooding USD 25-100m PCS insured
IN, KY, TN damage
31.3. – 1.4. USA Spring storm with snow, rain USD 101-300m PCS insured
PA, NJ, NY, and hail damage
CT, RI, MA, NH
4.4. Tanzania Flooding in coastal regions 52 dead
Lindi following heavy rains
5.4. – 6.4. USA, Canada Snow storms, wind speeds at least 9 dead
IA, IL, MN, WI, MI up to 130 km/h 24 injured
USD 101-300m PCS insured damage
USD 500m total damage
6.4. China Two earthquakes destroy over 17 injured
Xinjiang 3 000 buildings in Jiashi 3 000 homeless
10.4. – 11.4. USA Series of tornadoes; hail USD 25-100m PCS insured damage
TX USD 50m total damage
11.4. China Earthquake (magnitude 6.6) in 9 dead
Jiashi the northwest of the country 60 injured
17.4. – 7.5. USA, Canada Floods caused by melting snow; at least 3 dead
ND, SD, MN, major fires in Grand Forks USA: USD 101-300m
Red River, Grand PCS insured damage
Forks, Manitoba, USD 1.2bn total damage
Winnipeg
21.4. Ethiopia Flooding some 500 km southwest at least 29 dead
Arba Minch of the capital 22 injured
21.4. – 23.4. USA Tornadoes, hail and flooding 4 dead
TX, AR, MS, AL, USD 101-300m PCS insured damage
GA, LA, FL USD 250m total damage
30.4. – 1.5. USA Tornadoes and hail USD 25-100m PCS insured damage
VA, IL
2.5. Egypt Sandstorm with peak gusts of 18 dead
Cairo 110 km/h 60 injured
USD 1m total damage
2.5. – 3.5. USA Storms, rain, hail USD 25-100m PCS insured damage
LA, MS, AL, GA , FL, USD 150m total damage
PA

16 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

8.5. – 10.5. China Rain, storms, flooding; at least 160 dead

Guangdong, Yunnan 13 000 hectares of arable land CNY 1 000m (USD 120.8m)
flooded, 45 000 homes destroyed total damage
8.5. – 15.5. Afghanistan Flooding in more than ten 40 dead
provinces; 1 500 houses damaged
10.5. Iran Earthquake (7.1 on the Richter at least 1 500 dead
Khorasan, Qaen, scale) almost completely destroys 2 300 injured
Birjand around 170 villages 60 000 homeless
IRR 300bn (USD 100m) total damage
15.5. – 31.8. China Drought; river bed dried up in parts; CNY 1.4bn (USD 169.1m)
Shandong, around 6m hectares of land total damage
Yellow River affected
17.5. – 19.5. USA Tornadoes and hailstorm USD 25-100m PCS insured
IA, KS, IL, OH, PA damage
USD 200m total damage
19.5. Bangladesh Tropical cyclone with wind at least 110 dead
Bay of Bengal, St. speeds up to 200 km/h; 1 000 000 homeless
Martin, Chittagong, heavy rains; tsunami BDT 665.1m (USD 13.4m)
Cox’s Bazar, Noakhali insured damage
22.5. India Earthquake (6.0 on the Richter at least 38 dead
Madhya Pradesh, scale); 8 000 homes destroyed 1 000 injured
Jabalpur USD 37m total damage
24.5. – 26.5. Philippines Rains lasting three days and a at least 36 dead
Luzon, Manila storm cause flooding and land- 120 000 homeless
slides USD 2.5m total damage
27.5. USA Series of six tornadoes; rain, hail, at least 27 dead, 1 missing
TX, LA, FL flooding USD 101-300m PCS insured damage
USD 180m total damage
5.6. China Landslide following rain buries at least 3 dead, 147 missing
Sichuan, Yunnan four villages in Meigu province 325 injured
7.6. – 8.6. China Flooding following ten-hour at least 30 dead, 8 missing
Hunan, Changsha thunderstorms; USD 155m total damage
66 000 buildings damaged
8.6. – 9.6. India Landslides following persistent at least 34 dead
Himalaya, Sikkim, rainfall 38 injured
Gangtok
13.6. Brazil Storms, heavy rains and hail; 3 dead
Nova Larangeiras collapse of buildings 76 injured
14.6. – 24.6. Chile Flooding caused by rain and at least 19 dead
Valparaiso, snow after a year of drought 80 000 homeless
San Antonio CLP 80bn (USD 182.4m) total damage
16.6. – 10.7. Pakistan Heatwave with temperatures of at least 100 dead
40 – 46°C
20.6. – 21.6. Rumania Hail (with a diameter of up to 7cm), 12 dead
Oltenia heavy rain, storm; 100 000 60 injured
hectares of arable land damaged
20.6. – 22.6. USA Wind, hail, tornadoes and USD 25-100m PCS insured
SD, NE, IA, IL, WI flooding damage
23.6. – 24.6. Ukraine Storms with wind speeds up to 15 dead
Belarus 115 km/h, rain 50 injured
USD 19m total damage

17 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

23.6. – 26.6. India Heavy rains in an otherwise at least 180 dead

Gujarat, dry area; flooding USD 153.8m total damage
Sabarmati River
25.6. Barbados Volcanic eruption; lava flows at least 22 dead
Montserrat, Soufrière destroy seven villages BBD 16.1m (USD 8m)
Hills (UK) insured damage
27.6. Pakistan Storms, rain, landslides; many at least 22 dead
Mansehra Province, buildings damaged or destroyed
Jabar Kund
30.6. – 1.8. China Floods and landslides following at least 420 dead
Guizhou, Guangdong, rain; factories and mines closed, CNY 10.4bn (USD 1 251.2m)
Guangxi, Jiangxi, arable land destroyed total damage
Zhejiang, Jiangsu,
Anhui
1.7. Mexico Largest volcanic eruption for 20 dead
Popocatepetl 20 years
1.7. – 2.7. United Kingdom Flooding following an extremely 1 dead
Scotland, Moray wet June GBP 60m (USD 98.4m)
total damage
1.7. – 3.7. USA Storms, tornadoes, hail and 16 dead
MN, MI, IN, OH, flooding USD 101-300m PCS insured
WV, MA, NH damage
1.7. – 31.7. China Flooding at least 300 dead
Yunnan 18 000 injured
CNY 1.5bn (USD 1 027.4m)
total damage
4.7. – 9.8. Poland, Czech High water levels following at least 100 dead
Republic, Germany, persistent rain; Poland and Czech USD 940m insured damage
Slovakia, Austria, Republic worst affected USD 5bn total damage
Hungary, Ukraine,
Rumania
9.7. Venezuela Earthquake (6.9 on the Richter at least 79 dead
Cariaco scale) rocks Caribbean coastline 460 injured
USD 81m total damage
9.7. – 14.7. China Heatwave, temperatures of up to 16 dead
Beijing 36°C; electricity shortage 180 injured
9.7. – 15.7. Bangladesh Floods and landslides caused by at least 100 dead
Chittagong, Cox’s monsoon rains; 22 out of 64 250 000 homeless
Bazar provinces flooded
10.7. Japan Landslide following heavy rain 19 dead, 2 missing
Kyushu, Harihara buries a village 15 injured
15.7. – 17.7. China Heavy rain causes two landslides 79 dead
Sichuan, Xingwen, 30 injured
Guizhou
18.7. USA Wind, hail, tornadoes and USD 25-100m PCS insured
IL, OH, PA, NY, NJ flooding damage
18.7. – 24.7. USA Hurricane “Danny” USD 25-100m PCS insured
LA, AL, SC, NC damage
20.7. Italy Vortex uproots trees and sets 50 injured
Venice, Bibione boats free from their moorings

18 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

20.7. – 28.7. Pakistan Floods following rain; at least 31 dead

Lahore, Mansehra landslides, collapse of buildings
Province
28.7. USA Flooding damages, amongst other 5 dead, 24 injured
CO, Fort Collins things, 25 buildings at Colorado USD 25m insured damage
State University USD 100m total damage
31.7. – 4.8. Bangladesh Flooding in the southeast of the at least 4 dead
Ramu country following heavy rainfall 2 000 homeless
2.8. – 4.8. China Typhoon "Victor"; 280 000 at least 65 dead
Macao, Hong Kong, hectares of arable land flooded, 350 injured
Shenzhen, 85 000 houses damaged or CNY 4.8bn (USD 579.7m)
Guangdong destroyed total damage
4.8. – 27.11. Indonesia, Malaysia, Drought and fire clearing in 6 dead
Philippines, Brunei, Indonesia causes extensives fires 70 injured
Singapore, Papua and air pollution (haze) USD 420m total damage
New Guinea
6.8. India Several landslides as a result at least 23 dead
of monsoon rains in the east 10 injured
2 000 homeless
6.8. – 22.8. India Heavy monsoon rains in the west; at least 244 dead
damage to buildings and
infrastructure
10.8. Nepal Floods and landslides following at least 20 dead
Ilm heavy rainfall
11.8. – 12.8. India Floods and landslides as a result at least 135 dead
Himachal Pradesh of monsoon rains; damage to 20 injured
power plant INR 241.8m (USD 6.2m) insured damage
11.8. – 12.8 USA Hailstorms and thunderstorms; at least 5 dead
CO, Denver flooding USD 25-100m PCS insured damage
USD 150m total damage
13.8. – 14.8 United Kingdom Thunderstorms, heavy rain, USD 150m total damage
Scotland landslides; damage to infrastructure
and agriculture
15.8. – 17.8 USA Thunderstorms, tornadoes, hail USD 101-300m PCS insured
IA, IL, MO, IN, and flooding damage
OH, PA, NJ, NY USD 200m total damage
17.8. Switzerland Tempest, flooding, rockslides; CHF 50m (USD 34.2m)
Sachseln, Obwalden damage to buildings, insured damge
infrastructure and livestock CHF 100m (USD 68.5m) total damage
18.8. – 19.8. Taiwan, China, Typhoon "Winnie"; heavy rains, at least 300 dead
North Korea, landslides, flooding, collapse of 3 000 injured
Taipei, Zhejiang buildings 80 000 homeless
USD 15.1m insured damage
China: USD 2.7bn total damage
21.8. Burma Floods following heavy rain 13 dead
Nyaunglebin 34 000 homeless
22.8. – 27.8. China Typhoon "Zita", floods; 37 dead
Malaysia, Thailand 329 000 hectares of arable land 349 injured
Guangdong, Leizhou, damaged, 36 000 homes destroyed CNY 2.7bn (USD 327.3m)
Zhanjiang, Hong Kong total damage

19 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

23.8. – 25.8. Thailand Flooding in ten provinces in the at least 46 dead

south following heavy rainfall 394 injured
189 000 homeless
THB 1.9bn (USD 39.5m) total damage
25.8. Iran Earthquake (4.6 on the Richter 67 injured
Fars scale)
27.8. – 28.8. Bangladesh 15 fishing boats sink during storms 100 missing
Bay of Bengal,
Cox’s Bazar
27.8. – 1.9. Pakistan More than 1 200 villages flooded 140 dead
Punjab following heavy rain in northern
and central regions
1.9. – 2.9. China High water levels along the at least 63 dead
Hunan Xiangjiang River flood 11 districts
1.9. – 14.1. China Heavy snowfall; frostbite; loss of 2 000 injured
Tibet, Qinghai 90 000 head of livestock
8.9. Afghanistan Flooding destroys 150 homes in 30 dead
Laghman Mehthar Lam
24.9. – 25.9. India Heavy rainfall causes buildings to 25 dead
Andhra Pradesh collapse
25.9. Vietnam Typhoon "Fritz", rain and 10 dead, 50 injured
Danang, Quang Ngai flooding USD 5m total damage
26.9. Italy Two earthquakes (5.6 and 5.8 14 dead, 100 injured
Umbria, Le Marche, on the Richter scale) destroy homes 38 000 homeless
Foligno, Assisi, and the Basilica of Saint Francis; ITL 7.2bn (USD 4.1m) insured damage
Colfiorito, Nocera strong aftershocks on 3 and 6 ITL 8 000bn (USD 4 524.9m)
Umbra October total damage
26.9. – 27.9. Bangladesh Tropical cyclone destroys buildings, at least 70 dead
Bay of Bengal, infrastructure and crops 1 000 injured
Bhola District 60 000 homeless
USD 7.9m total damage
28.9. Indonesia Earthquake (measuring M 6.0) 20 dead
Sulawesi destroys or damages hundreds of 300 injured
buildings IDR 6bn (USD 1.1m) total damage
1.10. – 7.12. India Monsoon rains and storms; 207 dead
Tamil Nadu, flooding in ten districts INR 1.8bn (USD 44.9m)
Pondicherry total damage
7.10. – 10.10. Mexico Hurricane "Pauline", heavy rains; at least 230 dead, 84 missing
Acapulco, Guerrero, 50 000 buildings destroyed or 200 injured
Oaxaca damaged 50 000 homeless
USD 100m total damage
9.10. – 29.10. Brazil High river levels and flooding 20 000 homeless
Rio Grande do Sul, following persistent rainfall
Santa Catarina
13.10. Bangladesh Tornado destroys area where at least 22 dead
Dhaka Muslims preparing for festivities 500 injured
had been housing in tents
14.10. Chile Earthquake (6.8 on the Richter 9 dead, 300 injured
Ovalle scale) destroys buildings and 20 000 homeless
damages bridges USD 48m total damage
17.10. – 4.12. Indonesia Famine following drought 545 dead
Irian Jaya

20 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

18.10. – 20.10. Israel, Egypt, Flooding following heavy rainfall; 21 dead

Jordan hail 76 injured
Bersheba, Sinai USD 40m total damage
21.10. – 24.12. Kenya, Ethiopia, Flooding following persistent rain; at least 1 600 dead
Somalia high water levels in many rivers 214 000 homeless
Mombasa, Shebelle
25.10. – 28.10. USA Winter storms with snow, hail and at least 16 dead
CO, NE, IA, MI, heavy rainfall USD 101-300m PCS insured
MS, AL, FL damage
31.10. Portugal Mudslide following rain buries at least 29 dead
Azores, Sao Miguel part of the Ribeira Quente village 50 homeless
PTE 3bn (USD 16.3m) total damage
1.11. – 2.11. Oceania Tropical cyclone "Martin"; damage 22 missing
Cook Islands to the Manihiki and Rakahanga atolls 11 injured
1.11. – 2.11. USA Tornado damages some 120 USD 25-100m PCS insured
FL, ME buildings damage
USD 60m total damage
1.11. – 4.11. Vietnam, Thailand, Typhoon "Linda"; ten thousand at least 467 dead, 3 373
Cambodia hectares of rice fields flooded, missing
Gulf of Thailand, more than 170 000 homes damaged, 1 123 injured
Phu Quoc, Prachuap up to 3 600 fishing boats sunk USD 5m insured damage
Khiri Khan USD 500m total damage
3.11. – 8.11. Spain, Portugal Heavy autumn storms with rain; at least 33 dead, 4 missing
Alentejo, Algarve, flooding PTE 1.3bn (USD 6.8m) total
Badajoz, Andalusia damage
6.11. Tajikistan Avalanche in the Anzob pass; 12 dead, 28 missing
up to 12-metre high snow drifts
21.11. Bangladesh Earthquake (5.9 on the Richter 23 dead
Chittagong scale) 200 injured
30.11. – 28.12. Mexico Cold spell in many parts of the at least 87 dead
Guadalajara, country USD 3m insured damage
Aguascalientes USD 4m total damage
1.12. – 29.12. Tanzania Flooding following heavy rains 37 dead
Tabora
5.12. – 7.12. USA Storms, heavy rainfall and USD 25-100m PCS insured
CA, Laguna Beach, flooding damage
Huntington Beach
15.12. – 18.12. Poland, Russia, Cold spell; homeless particularly at least 61 dead
Rumania affected
Bucharest, Moscow
15.12. – 2.1. Peru Rain, storms, flooding, landslide; 24 dead, 30 injured
more than 500 homes destroyed 6 000 homeless
USD 12m total damage
16.12. – 17.12. USA Typhoon "Paka"; wind speeds up 20 injured
GU to 250 km/h, with peak gusts 5 000 homeless
over 300 km/h USD 200m total damage
22.12. – 9.1. Bangladesh Cold spell caused by persistent at least 189 dead
winds from the Himalayas
24.12. – 26.12. United Kingdom, Storms with wind speeds up to 13 dead
Ireland, France 160 km/h USD 500m insured damage
England, Wales, USD 600m total damage
Irish Sea

21 Swiss Re, sigma No. 3/1998

Man-made disasters
Major fires
Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

21.1. USA Explosion in a refinery 1 dead, 25 injured

CA, Martinez USD 74.4m total damage
USD 20m material damage
USD 29.4m BI
25.1. Belgium Fire in a synthetic fibres spinning BEF 1.5bn (USD 40.5m)
Wevelgem mill material damage
BEF 350m (USD 9.4m) BI
28.1. China Fire in the Yan Shan hotel spreads at least 30 dead
Hunan, Changsha from the 2nd to the 7th floor 70 injured
4.2. China Explosion in a fireworks 21 dead
Sichuan factory destroys more than 20 26 injured
residential buildings
19.2. Russia Fire in a chemical-pharmaceuticals at least 1 dead
Khabarovsk factory releases toxic fumes 217 injured
20.2. Pakistan Fire destroys telephone cables USD 200m total damage
Rawalpindi and equipment in a warehouse
23.2. India Fire in makeshift straw huts during 204 dead
Baripada a religious gathering 183 injured
3.3. South Africa Fire at Pretoria City Council; ZAR 328.9m (USD 67.5m)
Pretoria 4 000 workstations affected insured damage
19.3. Afghanistan Explosion in a weapons and 40 dead
Jalalabad ammunitions store 80 injured
30.3. Kenya Major fire in Kisimani slum area 10 000 homeless
Mombasa
6.4. Israel Fire in buildings belonging to the USD 40.2m insured damage
Malam, Tel Aviv aviation industry
15.4. Saudi Arabia Major fire in a pilgrims’ camp; at least 343 dead
Mecca mass panic 1 500 injured
15.4. USA Explosion and fire in a chemicals USD 107.6m total damage
LA, Geismar factory USD 31.6m material damage
USD 63m BI
26.4. Philippines Fire in the six-storey "New Imperial" at least 25 dead
Mindanao hotel in Cotabato 9 injured
17.5. Germany Melting end in a glass factory DEM 61m (USD 33.9m)
Achern breaks insured damage
3.6. Japan Fire in a spinning mill JPY 13bn (USD 100m)
Aichi Prefecture, Anjo insured damage
7.6. India Panic breaks out following fire 39 dead
Tamil Nadu, during celebrations at the 90 injured
Thanjavur Grihadeeswara temple
13.6. India Fire in a cinema’s underground 57 dead
Delhi car park; toxic fumes are released 91 injured
into the auditorium
29.6. Malaysia Fire in a textile factory MYR 190.3m (USD 48.9m)
Penang insured damage
11.7. Thailand Fire in the "Royal Jomtien" hotel; 90 dead
Pattaya emergency exits were locked 64 injured
THB 505m (USD 10.5m)
insured damage

22 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

14.8. Egypt Fire in the El Hurrija shopping and 3 dead

Cairo cinema complex 283 injured
USD 15m total damage
17.8. Indonesia Oil drilling rig and platform collapse USD 80m insured damage
Kalimantan, Tanjung into the sea following a gas
Santan blow-out
4.9. France Gas explosion in a seven-storey 53 injured
Paris building causes three floors to
collapse
6.9. Morocco Fire in the Oukacha prison 28 dead
Casablanca
10.9. USA Explosion causes several buildings at least 25 dead
OH, Columbus at a chemicals factory to collapse 8 injured
14.9. India Explosion and fire in a crude oil 56 dead
Visakhapatnam refinery; 100 000 people are INR 700m (USD 17.9m)
evacuated total damage
21.9. China Fire at the Yu Hua shoe factory 32 dead
Fujian, Jinjiang 4 injured
23.9. Germany Fire at a bakery which manufactures DEM 130.5m (USD 72.5m)
Wurzen long shelf life goods insured damage
26.9. Indonesia Fire in a paper factory USD 22m material damage
Sidoarjo, East Java USD 58m BI
29.9. Chile Fire in "Los Ceibos", a home for 31 dead, 6 missing
Santiago handicapped children and 3 injured
adolescents
29.9. USA Fire in the cold storage warehouse USD 86m insured damage
NC of a cigarette manufacturer
1.10. – 2.10. United Kingdom Fire in the warehouse of a GBP 100m (USD 163.9m)
Nottingham chemist’s chain total damage
3.10. Belgium Fire in the Sabena hangar destroys CHF 98.3m (USD 67.3m)
Brussels spare parts and archive material damage
CHF 51.1m (USD 35m) BI
3.10. Taiwan Fire in a new silicon wafer factory TWD 10bn (USD 306.1m)
Hsinchu, Hsin Chu insured damage
Hsien
9.10. Germany Fire in a chemicals plant DEM 96m (USD 53.3m)
Frankfurt am Main insured damage
20.10. China Fire on all seven floors of the 22 dead
Jiangxi "Peony" hotel in Linchuan 10 injured
24.10. South Africa Explosion in the gas industry 2 injured
Mosselbay ZAR 630m (USD 129.4m)
insured damage
2.11. Switzerland Fire at a manufacturer of metal CHF 60m (USD 41.1m)
Geneva goods insured damage
15.11. Austria Fire in a printing works ATS 780m (USD 61.7m)
Neudörfl, insured damage
Unterwaltersdorf
17.11. Germany Explosion in the metalwork DEM 65m (USD 36.1m)
Unterluess industry insured damage

23 Swiss Re, sigma No. 3/1998

Aviation

Date Country Event No. of victims/amount of damage in

Place original currency (in USD millions)

3.1. Singapore An empty Malaysian Airlines USD 26.5m

Changi International Airbus A330-300 is damaged insured damage
Airport by fire
9.1. USA A Comair EMB 120 crashes in bad 29 dead
MI, Detroit weather USD 7m insured damage
11.1. Space Damage to the American Telstar USD 135m insured damage
401 satellite
17.1. USA Ground control detonates a USD 35m insured damage
Cape Canaveral US Airforce Delta II launcher and USD 100m total damage
GPS satellite shortly after liftoff
1.2. Senegal An Air Senegal BAe 748 aircraft 20 dead
Tambacouda crashes shortly after takeoff 29 injured
USD 0.8m insured damage
5.2. Israel Two military helicopters crash 73 dead
shortly after takeoff
10.3. United Arab Emirates A Gulf Air Airbus A320-200 is 5 injured
Abu Dhabi blown off the runway during takeoff USD 40.5m insured damage
14.3. Iran An Iranian military Hercules C130 88 dead
Mashhad crashes into mountainous terrain
18.3. Russia An Antonov AN-24 operated by at least 46 dead
Caucasus, Cherkessk the Stavropol Airline crashes
8.5. China A Boeing 737-300 operated by 35 dead
Shenzhen CAAC China Southern Airlines 35 injured
crashes on its second landing USD 42m insured damage
attempt in poor weather
6.6. Zaire A Bazair BAe Vickers Viscount 27 dead
Bunia crashes
16.6. Space Partial damage to the geostationary USD 62.1m insured damage
Insat 2C satellite resulting in a
reduction of its orbital life span
6.7. Colombia Rebels shoot down an 21 dead
Arauquita Mi-17 military helicopter 7 injured
11.7. Cuba A Cubana de Aviacion AN-24 44 dead
Santiago de Cuba crashes after takeoff
17.7. Indonesia Crash-landing of a Sempati Air 27 dead
West Java, Bandung Fokker F-27 into a residential area 26 injured
shortly after takeoff USD 1.6m insured damage
27.7. Belgium Jordanian Airforce Falcon Extra 9 dead
Ostend 300 crashes at an air show 57 injured
BEF 200m (USD 5.4m)
insured damage
31.7. USA An MD-11 operated by Federal 5 injured
NJ, Newark Express bursts into flames after USD 115.8m insured damage
Intern. Airport a hard landing
5.8. USA A Korean Airlines Boeing 747-300 227 dead
GU, Agana crashes whilst attempting to land 27 injured
in bad weather USD 60.2m insured damage

24 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

3.9. Cambodia A Vietnam Airlines Tu-134 crashes 64 dead

Phnom Penh whilst making its second attempt 2 injured
to land in bad weather
13.9. South Atlantic Collision of a German Airforce 33 dead
Ocean Tu-154 with a US Airforce C-141
over the ocean
26.9. Indonesia An Airbus A300B4 operated by 234 dead
Sumatra Garuda Airlines crashes on approach USD 14.6m insured damage
1.10. Space Total loss of the Insat 2D satellite USD 62.1m insured damage
due to problems with the power USD 100m total damage
supply bus
10.10. Uruguay An Austral DC-9 crashes whilst 74 dead
Nuevo Berlin flying through a violent storm front USD 3m insured damage
2.11. Brazil Carrier rocket VLS-1 had to be USD 300m total damage
Alcantara detonated shortly after takeoff
due to a faulty starter motor
6.12. Russia A Russian military Antonov at least 80 dead
Siberia, Irkutsk An-124 carrier crashes onto 15 injured
a residential area shortly after USD 50m insured damage
takeoff and bursts into flames (freight)
USD 140m total damage
15.12. United Arab Emirates A Tupolev Tu-154 operated by 85 dead
Sharjah Tajikawija Airlines crashes shortly 1 injured
before landing and catches fire
17.12. Greece An Air Ukraine Yak-42 smashes 75 dead
Olymp, Katerini into a mountainside
19.12. Indonesia Crash of a Boeing 737-300 104 dead
Sumatra, Palembang operated by Silk Air USD 35.5m insured damage
22.12. Bangladesh Crash-landing of a Fokker F28 55 injured
Sylhet operated by Biman Bangladesh USD 5m insured damage
Airlines
24.12. Netherlands The landing gear of a Transavia USD 30m insured damage
Schiphol Boeing 757-200 collapses after
touchdown
25.12. Space Loss of the AsiaSat 3 satellite due USD 200m insured damage
to the premature shutdown of the
Proton booster
28.12. Japan A United Airlines Boeing 747 1 dead
Pacific Ocean is hit by extreme air turbulence 83 injured

25 Swiss Re, sigma No. 3/1998

Waterborne traffic

Date Country Event No. of victims/amount of damage in

Place original currency (in USD millions)

2.1. Japan Russian tanker "Nakhodka" 1 dead

Kyoto, Fukui loses 3 700 tonnes of crude oil CHF 1.8bn (USD 1 232.9m)
off the coast; oil pollution total damage
3.1. China Overladen passenger ship collides at least 40 dead
Sichuan, Tuojiang with a freighter in fog
(river), Zizhong
2.2. Bangladesh Fishing cutter sinks 140 km off 20 dead
Bay of Bengal Chittagong following a fire on board
8.2. Norway Freighter "Leros Strength" sinks in 20 dead
North Sea heavy seas 30 miles off Stavanger
12.2. Kenya Overladen ship capsizes 36 dead
Lake Victoria
17.2. – 15.3. United Kingdom Freighter "Albion II" sinks 70 25 dead
English Channel miles off the British coast
18.2. Red Sea Overladen boat sinks off the 89 dead
Eritrean coast
20.2. Sri Lanka Fishing boat with refugees on board 85 dead, 45 missing
Gulf of Mannar sinks
15.3. Burma Ship hits a storm on the River at least 35 dead
Mandalay Irrawaddy and capsizes
18.3. Haiti Boat capsizes on the way to the Ile at least 40 dead
Port-de-Paix de la Tortue
28.3. Italy, Albania Ship carrying Albanian refugees at least 80 dead
Adriatic sinks following collision with a
patrol boat
25.5. India Boat carrying villagers sinks on 15 dead, 6 missing
Kalijai return from an island
13.6. Bangladesh Ferry capsizes in heavy seas and at least 50 dead
Dhanu sinks
17.6. Morocco Boat with illegal immigrants from at least 23 dead
Strait of Gibraltar, Morocco and Algeria sinks
Tangier
19.6. India "Arcadia Pride" sinks; at least 6 dead, 18 missing
Mumbai (Bombay) cargo: sulphur
13.7. Indonesia Overladen ferry carrying mainly at least 83 dead
Sumatra, Lake Toba youths sinks on its way to Samosir
Island
16.7. Belize Two boats "Denovve" and 22 dead
"Nancy" sink during a storm
18.7. India Boat capsizes as Kosi River 35 dead
Bihar floods
20.7. India Overladen boat sinks as river at least 40 dead
Rapti River floods
22.7. Bangladesh Ferry sinks near Sariakandi 50 dead
Jamuna, Bogra
11.8. Vietnam Ferry collides with barges and sinks 21 dead, 5 missing
Red River, Hanoi

26 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

26.8. Nigeria Two passenger ships collide in 100 dead

Port Harcourt bad weather
1.9. Nigeria Passenger ship collides with 130 dead
Port Harcourt river boats in the Nile Delta
8.9. Haiti The heavily overladen ferry at least 400 dead
Anse-à-Galets "La Fierté Gonavienne" sinks
10.9. India Overladen ferry capsizes on the 45 dead
Bihar Kosi River
16.9. Spain Boat carrying immigrants from 7 dead, 20 missing
Strait of Gibraltar Africa sinks in stormy weather
21.9. India Overladen ferry sinks on the Ganges at least 60 dead, 33 missing
Bihar
24.9. India Boat sinks on the Choti Gandak 26 dead
Kushinagar River
24.9. – 20.10. North Pacific Freighter "Corriente" runs aground Hull: USD 23.2m insured
and sinks as a result of Typhoon damage
"Joan"
27.9. Malaysia Tanker "MV Mount I" rams the 29 missing
Strait of Malacca freighter "ICL Vikraman" in smog
(haze)
15.10. Singapore Collision between two tankers USD 100m total damage
Singapore Strait causes serious oil pollution
19.10. Indonesia Boat on the River Barito collides at least 25 dead
Borneo, Kalimantan with another boat in smog (haze)
22.10. India Passenger boat capsizes and sinks 59 dead
Murshidabad, Ganges
29.10. China Wooden motor boat sinks whilst 30 dead
Guangdong crossing a reservoir
24.11. North Atlantic The freighter "MSC Carla" breaks Hull: USD 13m insured damage
Azores asunder during a storm, losing
radioactive material
13.12. Haiti Overladen sailing boat "Living at least 40 dead
Port-au-Prince, La Christ" sinks in rough seas
Gonave

27 Swiss Re, sigma No. 3/1998

Road/rail traffic

Date Country Event No. of victims/amount of damage in

Place original currency (in USD millions)

1.1. – 2.1. Mexico Four tourist buses collide in fog 4 dead

Cuernavaca on the Mexico City-Acapulco 56 injured
motorway
6.1. Colombia Bus plunges into a ravine after 37 dead
Ricaurte attempting to avoid a rockfall 3 injured
9.1. Pakistan Poisonous chlorine gas is released at least 32 dead
Mughalpura following a truck accident 900 injured
14.1. Egypt Bus overturns on a bridge and 38 dead
Cairo plunges into the Nile 29 injured
14.1. Ivory Coast Bus careers into a tree in Gagnoa 21 dead
Abidjan
15.1. Tanzania Bus collides head-on with a 20 dead
Morogoro truck 18 injured
19.1. India Bus carrying wedding party 29 dead
Kapurthala plunges into a river
23.1. India A private bus overturns 9 dead
Nandanpukur 50 injured
7.2. Pakistan Bus plunges off the edge of 53 dead
Koala a mountain road
9.2. Indonesia Bus plunges off a steep turn 20 dead
Java into a ravine 28 injured
10.2. Italy 200-car pile-up on the A13 in fog 50 injured
Venice
10.2. Nigeria Bus carrying students collides 30 dead
with a truck
11.2. Cuba Collision between a passenger 13 dead
train and a locomotive 65 injured
13.2. China Double-decker bus catches fire; at least 45 dead
Guangdong no emergency exits for passengers 19 injured
on the lower deck
3.3. Pakistan Train derails due to brakes failure; 128 dead
Punjab, Khanewal two carriages are completely 60 injured
destroyed
10.3. United Kingdom Fog causes two massive pile-ups at least 3 dead
Worcestershire on the M42 62 injured
14.3. China Overladen double-decker bus 25 dead
Xian plunges into a ravine 27 injured
17.3. Azerbaijan Bus plunges from a bridge into the 46 dead
Caucasus River Tovus-Khai 9 injured
24.3. Mexico Passenger train collides head-on 70 injured
Zacoalco de Torres with a goods train
31.3. Spain Intercity "Miguel de Unamuno" 19 dead
Uharte-Arakil, passes through a station at 94 injured
Pamplona, Navarra excessive speed ESP 1 000m (USD 6.6m)
insured damage
8.4. India Bus plunges into a ravine near 38 dead
Jammu and Kashmir Dharmadi 20 injured
12.4. India Bus carrying wedding guests at least 24 dead
Uttar Pradesh plunges into a ravine 36 injured

28 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

15.4. India Truck collides with a tractor at least 21 dead

Uttar Pradesh carrying pilgrims on a trailer 24 injured
29.4. China Passenger train rams a stationary at least 90 dead
Hunan, Rongjiawan train in a station; 13 carriages 300 injured
derailed
8.5. India Truck carrying wedding guests 70 dead
Himachal Pradesh plunges into a ravine 8 injured
21.5. India Bus collides with a tanker carrying 6 dead
Punjab, Khara acid 53 injured
3.6. India Bus plunges into a stream 13 dead
Tumkur 58 injured
4.6. Guatemala Two buses plunge into a ravine 36 dead
following a head-on collision
4.6. Thailand Bus carrying factory workers 36 dead
Lopburi Province plunges into an irrigation channel
17.6. Iran Two buses collide 35 dead
Tehran 45 injured
23.6. China Bus collides with a truck 31 dead
Guizhou on a damaged road and plunges
into a ravine
24.6. Austria Collision between two passenger 94 injured
Arbing trains; there are many children
amongst the injured
5.7. Pakistan Bus plunges 100 m into a ravine 28 dead
Gilgit after brakes fail
6.7. Sudan Small transporter collides with 62 dead
El Kamlin an oncoming bus whilst trying 30 injured
to overtake
17.7. India Overladen bus plunges into a ditch 25 dead
Bihar near Biharsharif
19.7. India Bus plunges into a river 27 dead
Uttar Pradesh 28 injured
22.7. India Bus is swept away by monsoon 40 dead
Bihar floods whilst attempting to cross
the Usri River
28.7. India Delayed Karnataka express train 13 dead
New Delhi rams the Himsagar Express 82 injured
1.8. Peru Tour bus plunges from a cliff 23 dead
Andes after brakes fail 48 injured
2.8. India Bus careers into a tree near 20 dead
Bihar Samastipur 60 injured
7.8. Peru Collision between two buses at least 20 dead
Pacasmayo 40 injured
8.8. Peru Bus plunges off a precipice in rain at least 20 dead
Andes, Cusco and fog 50 injured
8.8. Turkey Bus on its way from Ankara to 28 dead
Erzincan Agri falls into a ditch 16 injured
13.8. Tanzania Head-on collision between two 14 dead
Dar es Salaam buses east of the capital 51 injured
14.8. India Bus plunges into a gorge near 20 dead
Meghalaya Sohryngkham 15 injured

29 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

24.8. Sri Lanka Bus plunges off a precipice on a 10 dead

Badulla journey from Kandy to Badulla 58 injured
4.9. Turkey Collision of two buses in 35 dead
Bolu the northwest of the mountains 40 injured
8.9. India Bus skids off road and plunges 40 dead
Meghalaya into a ravine 80 injured
10.9. India Bus plunges into a canal carrying 20 dead, 30 missing
Raigarh floodwater
13.9. India Five carriages of a high-speed train 81 dead
Madhya Pradesh, plunge off a bridge into the 236 injured
Champa Hansdev River
14.9. Indonesia Bus collides head-on with a truck at least 36 dead
whilst trying to overtake 29 injured
16.9. Egypt Truck carrying young cotton pickers 29 dead
plunges into a canal 54 injured
19.9. United Kingdom High-speed train from Swansea to 6 dead
London, Southall Paddington ploughs into an empty 160 injured
goods train
20.9. Vietnam Overladen bus plunges into the sea at least 33 dead
Nha Trang during heavy rain 20 injured
22.9. Philippines Two carriages of a train come loose at least 7 dead
Manila and crash into a following train 225 injured
26.9. India Bus plunges from a bridge into the at least 36 dead
Andhra Pradesh Krishna River
26.9. India Collision of two buses near the at least 13 dead
Bihar village of Lahtora 100 injured
29.9. Germany Pile-up involving four tour buses 70 injured
Bavaria and a truck on the Berlin-Nuremberg DEM 1m (USD 0.6m) total
motorway damage
29.9. France Four massive pile-ups involving at least 9 dead
Normandy approx. 100 vehicles on the 60 injured
motorway in thick fog
1.10. India Overladen bus crashes at least 41 dead
Andhra Pradesh, from a bridge into the Magamuru
Cuddapah River
13.10. Canada Bus plunges into a ravine 43 dead
Quebec 5 injured
14.10. Bangladesh Overladen bus plunges into a at least 58 dead
Tangail ditch 17 injured
18.10. Sierra Leone Truck with trailer overturns 70 dead
Freetown 22 injured
24.10. China Overladen bus plunges 250 m 42 dead
Yunnan off a cliff
24.10. Turkey Bus collides with a tanker; 48 dead
Konya both vehicles burst into flames 5 injured
25.10. South Africa Bus rams a tanker whilst attempting 33 dead
KwaZulu, Natal to overtake; both vehicles burst into 10 injured
flames
6.11. Cuba School bus collides with a train 56 dead
San German 6 injured

30 Swiss Re, sigma No. 3/1998

Date Country Event No. of victims/amount of damage in
Place original currency (in USD millions)

18.11. India Overladen school bus travelling at least 28 dead

Delhi, Jamuna River at excessive speed plunges from 70 injured
a bridge into the river
19.11. Canada Empty passenger train collides 50 injured
Toronto with a commuter train in the main
station
24.11. Thailand Two tour buses collide in at least 21 dead
Phichit Tambon Nong Pla Lai 40 injured
27.11. India Bus plunges into a ravine at least 24 dead
Himachal Pradesh
27.11. India Bus carrying wedding party plunges 34 dead
Karnataka into a canal
27.11. India Bus collides with a truck at least 20 dead
Maharashtra 40 injured
5.12. India Two buses collide in the Hisar at least 5 dead
Haryana District 50 injured
9.12. Germany Passenger train collides with 50 injured
Hanover a goods train DEM 30m (USD 16.7m) total damage
24.12. Pakistan Rohi Express ploughs into the 34 dead
Punjab, Rustam stationary Sargodha Express 40 injured
Sargana in the station
27.12. Peru Bus careers into a rock and plunges 27 dead
Andes into a ravine 36 injured

31 Swiss Re, sigma No. 3/1998

Mining disasters

Date Country Event No. of victims/amount of damage in

Place original currency (in USD millions)

4.3. China Gas explosion in a private 86 dead

Henan, Pingdingshan coal mine following business 12 injured
interruption
2.5. China Gas explosion in the Nanxiye at least 31 dead
Shandong, Laiwu coal mine
19.5. China Gas explosion in the Tongda 30 dead
Inner Mongolia, coal mine
Wuhai City
28.6. China Explosion in the Beilong-Feng 60 dead, 8 missing
Fushun coal mine
17.9. Norway Gas explosion in a coal mine 23 dead
Svalbard, Barentsburg operated by a Russian company
25.10. China Gas explosion in an unlicensed 32 dead
Henan, Pingdingshan coal mine
4.11. China Gas explosion in the Liangtian 43 dead
Guizhou coal mine
8.11. China Explosion in the Gaoshouqiao at least 24 dead, 15 missing
Chongquing coal mine in Nanchuan
13.11. China Gas explosion in the Pansan at least 89 dead
Anhui coal mine 2 injured
27.11. China Gas explosion in the Xie'er 45 dead
Anhui coal mine
27.11. China Gas explosion in a coal mine in at least 28 dead
Shaanxi Jieping
2.12. Russia Methane gas explosion in the 63 dead, 6 missing
Kuzbass Siryanovskaya coal mine 4 injured

Collapse of buildings/bridges

Date Country Event No. of victims/amount of damage in

Place original currency (in USD millions)

27.3. China Collapse of a multi-storey at least 20 dead

Fujian, Putian apartment block housing workers 40 injured
28.5. China Gas explosion in the Beilong-Feng 60 dead
Liaoning coal mine
12.6. Nigeria Collapse of an unfinished three- 20 dead
Enugu storey building
12.7. China Collapse of a five-storey 36 dead
Zhejiang, Changshan apartment block 3 injured
4.9. – 5.9. Paraguay In a storm, parts of the stadium at least 33 dead
Ciudad del Este roof collapse during an election rally 77 injured
16.9. India Collapse of an eight-storey 12 dead, 8 missing
Mumbai (Bombay) office building
21.10. India Collapse of a dilapidated building at least 10 dead
Mumbai (Bombay) at Dadar station 80 injured
8.11. Brazil A stairway collapses following a rock 7 dead
Santos concert at the“Clube de Regata" 51 injured

32 Swiss Re, sigma No. 3/1998

Miscellaneous

Date Country Event No. of victims/amount of damage in

Place original currency (in USD millions)

18.1. Pakistan Explosion of a motorcycle bomb 26 dead

Lahore in front of a law court 90 injured
20.1. Pakistan Poisonous home-distilled 32 dead
Hyderabad alcohol is served at a celebration
27.2. Colombia Bomb explosion destroys "El Pescador" at least 10 dead, 50 injured
Apartado hotel USD 1.5m total damage
6.3. – 7.3. Fiji Cyclone "Gavin"; fishing boat sinks; at least 30 dead
Viti Levu shops looted
26.3. USA Mass suicide by members of a sect 39 dead
CA, San Diego
29.3. – 30.3. India Car bomb and bomb attack on at least 16 dead
Jammu and Kashmir, a police station 78 injured
Srinagar
30.3. Cambodia Grenade explodes during an at least 14 dead
Phnom Penh anti-government demonstration 100 injured
1.4. China School children poisoned whilst 200 injured
Jiangsu testing a new soya milk drink
20.5. Italy Food poisoning in eight 700 injured
Turin kindergartens and primary schools
23.5. Indonesia Demonstrators set fire to a shopping at least 120 dead
Borneo, Kalimantan, centre; looters are trapped by the 200 injured
Banjarmasin flames
2.6. Russia Poisoning from illicitly distilled 21 dead
Siberia, Krasnoyarsk vodka 12 injured
4.6. Norway Bomb explosion in a rockers’ 1 dead, 22 injured
Drammen motorbike club NOK 260m (USD 35.3m)
insured damage
8.7. India Bomb attack on a passenger train 36 dead
Punjab in the station at Lehrakhanna 66 injured
1.8. Turkey A hand grenade is accidently 7 dead
Cizre activated at a wedding reception 50 injured
2.9. Sri Lanka Poisoning as a result of diluted at least 25 dead
Batticaloa alcohol
4.9. Israel Triple bomb attack in the 7 dead
Jerusalem Ben Yahuda pedestrianized area 192 injured
1.10. – 2.11. Egypt Poisoning through tanning salt sold 2 000 injured
Cairo as table salt
15.10. Sri Lanka Explosion of a truck bomb in the 11 dead
Colombo car park of the Galadari hotel 96 injured
7.11. India Bomb attack on two trucks 20 dead
Tripura carrying border guards
17.11. Egypt Terrorists with semi-automatic at least 69 dead
Luxor weapons ambush tourists 20 injured
at the Hatshepsut temple
19.11. India Car bomb explodes following a at least 22 dead
Andhra Pradesh, film premiere in a studio 20 injured
Hyderabad
22.12. Mexico Attack on a refugee camp 45 dead
Chiapas

33 Swiss Re, sigma No. 3/1998

Table 4
The 20 most costly insurance losses 1997

Insured loss15 No. of

(in USD m) victims16 Date Event Country

940.0 100 4.7. – 9.8. High water levels following persistent rain; Eastern Europe
Poland and Czech Republic are main areas
affected
500.0 13 24.12. – 26.12. Storms with wind speeds up to 160 km/h United Kingdom
306.1 – 3.10. Fire in a new silicon wafer factory Taiwan
300.0 17 36 28.2. – 3.3. Tornadoes, hail and flooding USA
225.0 3 17.4. – 7.5. Flooding caused by melting snow; major fires in USA, Canada
Grand Forks (Insured damage: USA only)
200.0 – 25.12. Premature shutdown of the Proton booster Space
causes loss of the AsiaSat 3 satellite
190.0 31 4.3. – 6.3. Flooding along the Ohio River USA
175.0 16 1.7. – 3.7. Storms, tornadoes, hail and flooding USA
165.0 16 25.10. – 28.10. Winter storms with snow, hail and heavy USA
rain
160.0 9 5.4. – 6.4. Snowstorms, wind speeds up to 130 km/h USA
140.0 4 21.4. – 23.4. Tornadoes, hail and flooding USA
135.0 – 11.1. Damage to the American Telstar 401 satellite Space
129.4 – 24.10. Explosion in gas industry South Africa
120.0 – 15.8. – 17.8. Storms, tornadoes, hail and flooding USA
115.8 – 31.7. An MD-11 operated by Federal Express USA
bursts into flames after a hard landing
110.0 – 31.3. – 1.4. Spring storms bring snow, rain and hail USA
110.0 28 27.5. Series of six tornadoes; rain, hail, flooding USA
102.3 – 3.10. Fire in the Sabena hangar destroys spare Belgium
parts and archive
100.0 – 3.6. Fire in a spinning mill Japan
100.0 – 20.2. – 22.2. Wind, hail and flooding USA

15 Excl. liability
16 Dead or missing
17 Figures for natural catastrophes in the US with permission of the Property Claims Service (PCS)

34 Swiss Re, sigma No. 3/1998

Table 5
The 20 worst catastrophes in terms of fatalities 1997

No. of Insured loss Date Event Country

victims18 (in USD m)19

3 840 5 1.11. – 4.11. Typhoon "Linda"; ten thousand hectares Vietnam

of rice fields flooded, more than 170 000
homes damaged
1 600 – 21.10. – 24.12. Flooding following persistent rain; many rivers Kenya
with high water levels
1 500 – 10.5. Earthquake (7.1 on the Richter scale) almost Iran
completely destroys around 170 villages
965 – 28.2. Earthquake (5.5 on the Richter scale) Iran
400 km north of Tehran
545 – 17.10. – 4.12. Famine following drought Indonesia
420 – 30.6. – 1.8. Flooding and landslides following rain; China
factories closed, arable land destroyed
400 – 8.9. The heavily overladen ferry Haiti
"La Fierté Gonavienne" sinks
343 – 15.4. Major fire in pilgrims’ camp; mass panic Saudi Arabia
314 – 7.10. – 10.10. Hurricane "Pauline", heavy rainfall; Mexico
50 000 buildings destroyed or damaged
300 – 1.7. – 31.7. Flooding in Yunnan China
300 15.1 18.8. – 19.8. Typhoon "Winnie"; heavy rainfall, landslides, Taiwan
flooding, collapse of buildings
250 – 18.2. – 19.2. Landslides following persistent rain; two villages Peru
buried
244 – 6.8. – 22.8. Heavy monsoon rains in the west; buildings India
and infrastructure damaged
234 14.6 26.9. Garuda Airlines Airbus A300B4 crashes Indonesia
whilst attempting to land
227 60.2 5.8. A Korean Airlines Boeing 747-300 crashes USA
on landing (Guam)
207 – 1.10. – 7.12. Monsoon rains and storms; flooding in India
ten districts
204 – 23.2. Fire in makeshift straw huts during a India
religious gathering
200 – 24.1. Tropical cyclone "Gretelle" destroys 90% of Madagascar
the villages in the southeast of the country
180 – 23.6. – 26.6. Flooding in Gujarat India
150 – 5.6. Landslide following rain in Sichuan China

18 Dead or missing
19 Excl. liability

35 Swiss Re, sigma No. 3/1998

Tables for the most costly and
the worst catastrophes 1970 –1997

Table 6
The 40 most costly insurance losses 1970–1997

Insured loss20
(in USD m,
at 1997
prices) Fatalities21 Date/start Event Country
18 286 38 24.8.1992 Hurricane "Andrew" USA
13 529 60 17.1.1994 Northridge earthquake in southern California USA
6 542 51 27.9.1991 Hurricane "Mireille" Japan
5 636 95 25.1.1990 Winter storm "Daria" (severe gales) Europe
5 427 61 15.9.1989 Hurricane "Hugo" Puerto Rico
4 230 13 15.10.1987 Autumn storm Europe
3 917 64 26.2.1990 Winter storm "Vivian" (severe gales) Europe
2 712 167 6.7.1988 Explosion on offshore platform "Piper Alpha" United Kingdom
2 603 6 000 17.1.1995 Great Hanshin earthquake in Kobe Japan
2 211 59 4.10.1995 Hurricane "Opal" USA
1 943 246 10.3.1993 Blizzard over East Coast USA
1 829 4 11.9.1992 Hurricane "Iniki" USA
1 714 23 23.10.1989 Explosion at Phillips Petroleum USA
1 660 – 3.9.1979 Hurricane "Frederic" USA
1 637 39 5.9.1996 Hurricane "Fran" in the southeast USA
1 625 2 000 18.9.1974 Tropical cyclone"Fifi" Honduras
1 579 116 3.9.1995 Hurricane “Luis” Caribbean
1 509 350 12.9.1988 Tropical cyclone "Gilbert" Jamaica
1 415 500 17.12.1983 Snowstorms, frost USA
1 413 26 20.10.1991 Forest fire which spread to urban area, drought USA
1 399 350 2.4.1974 Tornadoes in 14 US states USA
1 339 31 4.8.1970 Hurricane "Celia" USA
1 335 – 25.4.1973 Flooding caused by Mississippi USA
1 294 63 17.10.1989 Loma Prieta earthquake USA
1 195 21 5.5.1995 Wind, hail and floods USA
1 148 100 2.1.1976 Storms over northwest Europe Europe
1 086 20 17.8.1983 Hurricane "Alicia" USA
1 055 3 26.10.1993 Forest fire which spread to urban area USA
1 053 40 21.1.1995 Storms and floods in northern Europe Europe
1 022 28 3.2.1990 Storm "Herta" (severe gales) Europe
995 47 3.9.1993 Typhoon "Yancy" Japan
989 13 18.8.1991 Hurricane "Bob" USA
972 36 16.2.1980 Floods in CA and AZ USA
971 – 28.3.1979 Malfunction in Three Mile Island power station USA
965 – 30.4.1983 Storms and floods France
940 100 4.7.1997 Flooding; Poland / Czech Republic are Eastern Europe
main areas affected
936 15 28.2.1990 Winter storm "Wiebke" Europe
921 108 14.9.1995 Hurricane "Marilyn" Caribbean, USA
902 11 28.12.1989 Earthquake in Newcastle Australia
886 58 29.4.1992 Race riots in Los Angeles USA

20 Dead or missing
21 Excl. liability

36 Swiss Re, sigma No. 3/1998

Table 7
The 40 worst catastrophes in terms of fatalities 1970–1997

Fatalities22 Insured
loss23
(in USD m, at
1997 prices) Date/start Event Country
300 000 – 14.11.1970 Tropical cyclone Bangladesh
250 000 – 28.7.1976 Earthquake in Tangshan China
140 000 – 29.4.1991 Tropical cyclone "Gorky" Bangladesh
60 000 – 31.5.1970 Earthquake Peru
50 000 141 21.6.1990 Earthquake Iran
25 000 – 7.12.1988 Earthquake in Armenia Former Soviet Union
25 000 – 16.9.1978 Earthquake Iran
23 000 – 13.11.1985 Volcanic eruption “Nevado del Ruiz” Colombia
22 000 211 4.2.1976 Earthquake Guatemala
15 000 480 19.9.1985 Earthquake Mexico
15 000 – 11.8.1979 Damburst India
15 000 – 1.9.1978 Flooding India
10 800 – 31.10.1971 Flooding India
10 000 – 25.5.1985 Tropical cyclone Bangladesh
10 000 – 20.11.1977 Tropical cyclone India
9 500 – 30.9.1993 Earthquake in the state of Maharashtra India
8 000 – 16.8.1976 Earthquake on Mindanao Philippines
6 304 – 5.11.1991 Typhoons "Thelma" and "Uring" Philippines
6 000 2 603 17.1.1995 Great Hanshin earthquake in Kobe Japan
5 300 – 28.12.1974 Earthquake Pakistan
5 000 – 10.4.1972 Earthquake in Fars Iran
5 000 385 23.12.1972 Earthquake in Managua Nicaragua
5 000 – 30.6.1976 Earthquake Indonesia
4 800 – 23.11.1980 Earthquake Italy
4 500 – 10.10.1980 Earthquake Algeria
4 000 – 15.2.1972 Storms and snow Iran
4 000 – 24.11.1976 Earthquake in Van Turkey
3 840 5 1.11.1997 Typhoon “Linda” Vietnam
3 800 – 8.9.1992 Floods in Punjab Pakistan, India
3 200 – 16.4.1978 Hurricane Réunion
3 000 – 1.8.1988 Floods following monsoon rains Bangladesh
3 000 – 11.6.1981 Earthquake Iran
3 000 – 2.12.1984 Malfunction in Bhopal chemical plant India
2 800 – 13.12.1982 Earthquake in the north of the country Arab. Rep. of Yemen
2 500 – 31.7.1974 Floods in northern provinces Bangladesh
2 500 – 6.6.1981 Railway accident in Bihar India
2 484 – 11.12.1992 Earthquake on Flores Island Indonesia
2 300 – 29.11.1988 Tropical cyclone Bangladesh, India
2 300 – 6.9.1975 Earthquake (6.8 on the Richter scale) Turkey
2 000 1 625 18.9.1974 Tropical cyclone "Fifi" Honduras

22 Dead or missing
23 Excl. liability

37 Swiss Re, sigma No. 3/1998

Recent sigma publications

No. 1/95: The performance of the insurance industry in international comparison:

a risk-adjusted analysis
No. 2/95: The London Market
No. 3/95: Natural catastrophes and major losses in 1994: Third highest loss
burden in the history of insurance
No. 4/95: The insurance industry in Eastern Europe: Recovery has begun
No. 5/95: World insurance in 1993: Accelerating premium growth
No. 6/95: Non-proportional reinsurance of losses due to natural disasters in 1995:
Prices down despite insufficient cover
No. 7/95: Development of insolvencies and importance of security in the insur-
ance industry

No. 1/96: High volatility in aviation insurance: Are premium rates due for a
nosedive?
No. 2/96: Natural catastrophes and major losses in 1995: decrease compared to
previous year, but continually high level of losses since 1989
No. 3/96: sigma-prospect: The insurance cycle passes its peak - increased price
competition and a sluggish economy dampen premium growth. Fore-
casts for 1996 and 1997 in the major non-life markets
No. 4/96: World insurance in 1994: Clear slowdown in North America and Japan,
reduced momentum in Europe
No. 5/96: Insurance derivatives and securitization: New hedging perspectives for
the US catastrophe insurance market?
No. 6/96: Asia’s insurance industry on the rise: into the next millennium with
robust growth
No. 7/96: Deregulation and liberalization of market access: the European insurance
industry on the threshold of a new era in competition
No. 8/96: Insurance in Eastern Europe: a growth industry on the way towards
market structures

No. 1/97: US: Consolidation accompanied by weak growth – a business challenge

in property and casualty insurance.
No. 2/97: The insurance industry in Latin America: a growing market in a com-
petitive environment
No. 3/97: Natural catastrophes and major losses in 1996: high losses from
man-made disasters, but no extremely costly losses from natural cata-
strophes
No. 4/97: World insurance in 1995: premium volume exceeds USD 2000 billion
for the first time
No. 5/97: Alternative risk transfer via finite risk reinsurance: an effective contri-
bution to the stability of the insurance industry
No. 6/97: Low claims ratios and overcapacity force prices downwards
No. 7/97: Too little reinsurance of natural disasters in many markets

No. 1/98: Life and health insurance in the emerging markets: assessment, reforms
and perspectives
No. 2/98: Health Insurance in the United States: An Industry in Transition
No. 3/98: Natural catastrophes and major losses in 1997: Exceptionally few high losses

39 Swiss Re, sigma No. 3/1998