Impact Forecasting, Aon Benfield’s catastrophe model development team, has released its Global Catastrophe Recap: First Half of 2017 report, which evaluates the impact of the natural disaster events that occurred worldwide in the first six months of the year.

Global economic losses from natural disasters for 1H 2017 were estimated at $53 billion (USD) according to the report. That figure is 56% lower than the 10-year average of $122 billion (USD) and 39% lower than the 17-year average of $87 billion (USD).

Report findings indicate the U.S. recorded 76% of the global losses sustained by public and private insurance entities during 1H 2017, while EMEA (Europe, Middle East & Africa) and Asia-Pacific (APAC) each accounted for 10%. The Americas made up 4% of the global insured loss total.

View the full Global Catastrophe Recap: First Half of 2017 report.