Map showing natural catastrophe loss event worldwide in 2021. In 2021, natural disasters caused overall losses of $280 billion, of which roughly $120 billion were insured. Alongside 2005 and 2011, the year 2021 proved to be the second-costliest ever for the insurance sector (record year 2017: $146 billion, inflation-adjusted) – overall losses from natural disasters were the fourth-highest to date (record year 2011: $355 billion). Graphic: Munich Re