Global Catastrophe Recap - Q1 2024

The first quarter of 2024 saw several notable disaster events, which drove total year-to-date economic losses above $45 billion. This was lower than the 21st-century Q1 average of $59 billion and significantly lower than losses in the first quarter of 2023 ($149 billion). The costliest event of the first three months was the Noto Earthquake in Japan, which occurred on the very first day of the year and resulted in economic losses of $17.6 billion, according to governmental estimates.

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