Willis Re Summary of Natural Cat Events 2016 eVENT Natural Catastrophe Update Economic impact and insured losses due to natural disasters Volume 5 Issue 3 Table of Contents Table of Contents .......................................................................................................................................... 2 Major natural catastrophes in 2016 ............................................................................................................... 1 Other natural catastrophe events by peril and location .............................................................................. 30 Abbreviations ........................................................................................................................................... 40 Sources ................................................................................................................................................... 40 Apr Apr Willis Re Natural Catastrophe Events 2016 2016 Wildfire Canada, Windstorm May Europe, May Earthquake Earthquake Italy, Oct Thunderstorm Japan, Apr U.S.A., Nov Hailstorm U.S.A., Typhoon Apr Chaba, Oct Typhoon Sarika, Oct Wildfire Typhoon Haima, Tennessee, Nov Oct Wildfire Israel, Flood Louisiana, Hurricane Nov Aug Thunderstorm Matthew, Oct U.S.A., Nov Tornado U.S.A., Feb Earthquake Tropical Earthquake Ecuador, Apr Cyclone Kaikoura, Nov Vardah, Dec Thunderstorm Australia, Nov Figure 1. Major natural catastrophes 2016 (Source of map: Willis Re SpatialKey application) Natural catastrophes in 2016 Contact us For further information, please contact John E. Alarcon, PhD MSc Ashish Harbindu, PhD MSc Executive Director, Senior Technical Leader, MR&E Head of U.K. Catastrophe Analytics, APMETA Willis Re Willis Re Willis Ltd I 51 Lime Street I London EC3M 7DQ Willis Processing Services I Vikhroli (West) Mumbai – 400 079 D +44 (0) 20 3124 8678 M +44 (0) 79 8352 6997 D +91 22 6210 8511 [email protected] [email protected] Karl Jones Vaughn Jensen Managing Director Executive Vice President Catastrophe Analytics, Willis Re International Catastrophe Analytics, Willis Re North America Willis Re Willis Re Willis Ltd I 51 Lime Street I London EC3M 7DQ 7760 France Avenue South I Minneapolis, MN 55435 D +49 (0)89 54336 189 D +1 952 841 6641 [email protected] [email protected] With special thanks to the eVENT™ response team: Meenakshi Verma (Mumbai) | Thomas Kiessling (Germany) | Giorgis Hadzilacos (London) | Adam Cannig (Miami) | Roy Cloutier (U.S.A.) | Prasad Gunturi (U.S.A.) willistowerswatson.com I willisre.com January 2017 Natural catastrophes in 2016 Major natural catastrophes in 2016 This report summarizes the economic and insured losses from the most relevant natural catastrophe events that occurred during 2016. The loss values presented include those reported by Willis Re, catastrophe model vendors, reinsurance companies and third party organizations. The insured loss estimates from major natural catastrophes in 2016 of about USD 39.5 billion are the highest since the annual market losses of USD 60 billion observed in 2012. These losses do not include man-made disasters. The 2016 year losses have reversed the trend in loss reductions as seen from 2011 till 2015, where insured losses had gone from USD 120 billion to 23.0 billion respectively. The economic losses have been much higher than the insured losses which show low insurance penetration in the selected regions affected by the catastrophes. In terms of casualties, about 10,000 were reported in the entire year making it a deadly year. In the U.S.A., the largest single insured loss came from Hurricane Matthew between October 1 to 8 with about USD 2.3 billion, while in Canada the Fort McMurray wildfire in May brought insured losses circa USD 3.5 billion. Europe had its largest market losses during the year in late May and early June with the combined effects of Windstorms Elvira and Friederike producing about USD 2.48 billion. In Asia, the largest event was the Kumamoto earthquake in Japan in April with losses greater than USD 4.8 billion. Finally, the event with largest impact in Latin America was the Ecuador Earthquake in Esmeraldas Province on April 16 with loss estimates around USD 325 to 850 million. The aforementioned events and others with lower insured losses are described in detail in the first part of this report, listed in chronological order, while a summary of a number of events is provided in various tables at the end of the document, organized by peril/region affected. eVENT™ Natural catastrophes in 2016 1 BL Jonas January 23 to 24, 2016 Mid-Atlantic . Jonas, a major winter storm, brought heavy U.S.A. snowfall to wide areas of Mid-Atlantic States. State of Emergency declared in Maryland, North Carolina, Georgia, Pennsylvania, Virginia and Columbia. Levels ranged from 1.18 – 3.5 in (30 – 90 mm) including 2.8 in (70 mm) in Washington D.C. to 3 Maximum in (75 mm) in New York City; Baltimore, Snowfall: Maryland, Harrisburg and Pennsylvania received 90 cm 2.9 in (73 mm) of snow. Maximum was 3.9 in (100 mm) near Glengary, West Virginia. Insured losses . Jonas caused wind gusts of above 70 mph (in USD millions) (112.7 km/h) in at least five states. 235 (PCS) . Strong onshore winds coupled with high Figure 2: Total snow depths as of January 24 astronomical tides led to coastal flooding in (Source: AIR and Community Collaborative Rain, Hail and Snow Network) Economic losses Delaware and New Jersey. (in USD billions) . An estimated 85 million people affected; at least . 0.85 (Planalytics) 30 fatalities reported. > 300,000 power outages reported. Several properties flooded, coastal erosion of up Fatalities: 30 to 15 ft (4.6 m) at Delaware and other areas of New Jersey coast. Almost 12,000 flight cancellations, widespread road and rail disruptions. Traffic jams of over 12 hours in Kentucky and Pennsylvania. TO U.S.A. February 23 to 24, 2016 Southern and . The southern and Mid-Atlantic U.S.A. states Mid-Atlantic impacted damaging tornadoes and strong winds. states of U.S . A total of 46 tornadoes (NWS) impacted 10 U.S. states with worst observed damages in the states of Louisiana, Florida, Alabama, and Virginia (NWS). Highest category of tornadoes (EF3) with wind speed as high as 165 mph (265.5 km/h) reported in Evergreen, Appomattox County of Virginia state (NWS). Category 3 on the . 8 fatalities; many injured EF (Enhanced . 420 buildings damaged; damages to roofs, Fujita) Scale windows and siding; downed trees. Strong wind knocked trees and downed powers Insured losses lines, causing power outage and fatalities. (in USD millions) 111,000 power outage reported from different Figure 3: Tornado Outbreak between February 23 to 24, 2016 in the Southern and . 767 (PCS) states, majority from Louisiana, Florida, Alabama, North Carolina and Virginia. Mid-Atlantic United States (Source: US Tornadoes) . Worst damages reported in the area of Covent, Fatalities: 8 St. James Parish of Louisiana causing damage to at least 100 mobiles home. There have been more tornadoes in February than usual this year in the region. eVENT™ Natural catastrophes in 2016 2 FL U.S.A. March 7 to 14, 2016 Louisiana, Texas, . March 7, 2016 brought on record Arkansas, breaking rainfall and flash flooding to Mississippi Louisiana, Texas, Arkansas and Mississippi. It was the result of upper level trough carrying moisture inland from the Eastern Pacific and the Gulf of Mexico. The rainfall continued for days leading to massive floods ceasing finally on March Insured losses 14. Figure 4: The distribution of rainfall from March 7 (in USD millions) . Some areas received more than 20 in through 14, 2016 over the south central U.S. Purple (500 mm) of rain. indicates highest rainfall amounts (Source: NASA) . 295 (PCS) . Over a period of 72 hours, parts of Louisiana received 20 in (500 mm) of Fatalities: 6 rain, Eastern Texas; Southeast Arkansas received 7.9 in (200 mm) of rain. The water receding into rivers caused river flooding downstream in Mississippi, southern Louisiana and southeast Texas. > 6 fatalities, > 4,900 rescued. In Texas around 10,000 people affected, including thousands evacuated. > 11,000 properties in Louisiana, 1,600 homes in Mississippi, > 400 homes in Texas damaged due to flooding. Dozens of roadways closed in the 3 states. Most due to river flooding. Multiple bridges washed away in Texas. Severe weather, strong winds led to cancelling of more than 150 flights in and out of Dallas – Fort Worth International Airport. eVENT™ Natural catastrophes in 2016 3 HL U.S.A. March 13 to 18, 2016 Southern, Central, . Severe thunderstorm hit the areas of southern, and Eastern states central and eastern United States with hail and of U.S.A. tornadoes. Hail size as large as 3 in (76 mm) in diameter . Worst impacted was the Fort Worth city area of north central Texas. Other impacted areas include Arkansas, Mississippi, Illinois, Iowa, and Louisiana. At least 40 homes damaged in Illinois. Insured losses . Over 50,000 vehicles damaged (ICT); storm Figure 5: Catastrophic Hail Storm Impacts (in USD millions) pounded cars and smashed windshields Fort Worth, Texas (Source: commericalclaimpro.com) . 600 (ICT) . Hail also impacted Forth Worth Zoo, roof . 692 (PCS) damages to several businesses. Fatalities: 0 HL U.S.A. April 10 to 12, 2016 Southern States . Costliest Hailstorm in Texas History. of U.S.A. Severe weather brought large hail and strong winds to several southern U.S. states, with parts of northern and southern Texas the