Since 1980, nine countries in Central America and the Caribbean have had at least half of their annual gross domestic product (GDP) wiped out by a natural catastrophe. The 2010 earthquake in Haiti had an estimated impact of 120% of GDP.Download
Uruguay is fortunate to have four river basins within its borders, two of which feed its hydroelectric plants. Hydropower can supply up to 90% of the country‘s electricity demand in a humid year. A dry year, however, can be costly.Download
Over the past 50 years, 75 major flood events have been reported in Argentina, affecting around 13 million people and taking more than 500 lives. With the equivalent of USD 22.5bn lost since 1980, floods are the most costly natural catastrophe affecting the country.
Adjusting for the country‘s GDP growth, the same events today would have caused accumulated losses of USD 43.5bn.
In the late afternoon of 2 April 2013, rain started pouring down like many other days in La Plata. In just a few hours, 200 mm fell over the city. It did not take long before the roads turned into rivers, and these rivers into fatal traps. Looking from the window of her home in La Plata, Noelia eventually found herself staring at the water as it burst
violently into her house.
For the third year in a row, the industry magazine Latam Insurance Review (Latam IR) awarded Swiss Re Corporate Solutions in Brazil.
This time, the award was particularly special, as it recognized our pioneering and innovative solutions.
Mexico City, a metropolis of around 21 million people is plagued by regular summer flooding which makes life utterly miserable for the city’s inhabitants, just one recent example being the inundation caused by Tropical Storm Ernesto in 2012. It is also exposed to substantial earthquake risk.
To decrease the country’s financial exposure in times of drought, in January 2014 Uruguay’s state-owned electric company entered into an 18-month, USD 450 million weather coverage agreement with the World Bank Treasury. Highlighting the strength of public-private partnership, Swiss Re Corporate Solutions took on a material part of the risk.Download
Ten years after the first tropical cyclone ever recorded in the South Atlantic, we investigate the possibility and potential impact of another event like it.Download