Costliest year for natural disasters

According to a report published by The Economist on 31 March 2012 and based on figures from insurers Swiss Re, the costliest year for natural disasters was 2011, with a total estimated loss worldwide reaching $362 billion (£224.2 billion). The most devastating single event was the earthquake that struck off the Pacific coast of Japan on 11 March, which cost the Japanese economy an estimated $210 billion (£130 billion) and was the costliest single natural disaster in history. Prior to 2011, the costliest year for natural disasters was 2005, when losses were estimated at $225 billion (£128 billion).

The second costliest event of 2011 was flooding in Thailland, which cost the economy $30 billion (£18.75 billion).