A deep winter freeze, hailstorms and wildfires contributed to natural catastrophe losses of USD 40 billion in the first half of 2021, according to Swiss Re Institute’s preliminary sigma estimates*. This is above the previous ten-year average of USD 33 billion and the second highest on record for a first half after 2011, when major earthquakes in Japan and New Zealand pushed the six-month total to USD 104 billion. Man-made disasters triggered another estimated USD 2 billion of insured losses in the first half this year, less than usual and likely reflecting remaining COVID-19 restrictions.