# Stocks tumble globally on raft of economic, political worries
Author:  Pal Sinha, Barnali 
Author URL: https://financedigest.com/author/pal-sinha-barnali
Published: 2018-02-09
Category: INSURANCE
Category URL: https://financedigest.com/category/insurance
Meta Title: Global Stocks Plummet Amid Inflation Fears & Conflict
Meta Description: MSCI's global stock index reaches nearly two-year low as recession fears rise due to central bank interest rate hikes, geopolitical tensions, and economic
Tags: featured
Tag URLs: featured (https://financedigest.com/tag/featured)
URL: https://financedigest.com/stocks-tumble-globally-on-raft-of-economic-political-worries-2html

![undefined](https://prod.superblogcdn.com/site_cuid_cm5qst7v3003gwirgwqtxn8i8/images/fdz090218-1-2-1737287621589-compressed.jpg)

**Friederike, Eleanor and Carmen, kill at least 20 people and cause widespread damage**

[Impact Forecasting](http://www.impactforecasting.com/), Aon Benfield’s catastrophe model development team, today launches the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during January 2018. [Aon Benfield](http://www.aonbenfield.com/) is the global reinsurance intermediary and capital advisor of Aon plc (NYSE:AON).

The report reveals that several Atlantic storm systems impacted Western and Central Europe during the month, the most significant of which was Windstorm Friederike, which killed at least 13 people after hurricane-force wind gusts and heavy rainfall affected Germany, the Netherlands, Belgium, France, and the United Kingdom.

The German Insurance Association (GDV) reported that Friederike was the costliest windstorm in the country since Windstorm Kyrill in 2007, with preliminary payouts listed at approximately EUR1 billion (USD1.24 billion).

Additional payouts exceeding EUR100 million (USD125 million) were [reported by other regional](https://www.financedigest.com/asia-pacific-region-to-lead-the-global-static-shielding-bags-market-fact-mr-report.html "Asia Pacific Region to Lead the Global Static Shielding Bags Market: Fact.MR Report") insurance groups. Overall economic [losses were even higher](https://www.financedigest.com/uk-pub-operator-wetherspoons-loss-narrows-despite-higher-costs.html "UK pub operator Wetherspoon’s loss narrows despite higher costs").

Windstorms Eleanor and Carmen also impacted Western and [Central Europe](https://www.financedigest.com/analysis-runaway-prices-have-central-europe-on-the-ropes.html "Analysis-Runaway prices have central Europe on the ropes"), killing at least seven people and causing notable damage in the UK, Ireland, France, Germany, and Switzerland. Preliminary insured losses were listed in the hundreds of millions (EUR).

Michal Lörinc, an analyst with [Impact Forecasting’s](https://www.financedigest.com/bicycle-chain-market-size-and-forecast-2020-2030-with-post-impact-of-covid-19-by-top-leading-players-sram-llc-renold-plc-taya-chain-co-ltd-kmc-group-shimano-inc-tien.html "Bicycle Chain Market Size And Forecast (2020-2030) | With Post Impact Of Covid-19 By Top Leading Players- SRAM LLC., Renold PLC., Taya Chain Co., Ltd., KMC Group, Shimano Inc., Tien") Catastrophe Insight team, said: “A meteorologically active January resulted in elevated windstorm losses in Europe. When looking at the combined effect of storms Friederike, Eleanor and Carmen, windstorm-related economic and insured [losses in Europe are already comparable to the annual](https://www.financedigest.com/orpea-slides-to-annual-loss-of-4-billion-euros-on-asset-depreciation.html "Orpea slides to annual loss of 4 billion euros on asset depreciation") totals recorded throughout 2017. The [busy stretch of storms allowed Impact Forecasting](https://www.financedigest.com/covid-19-is-impacting-the-high-speed-steel-market-size-business-revenue-forecast-leading-competitors-and-growth-trends-2031.html "COVID-19 Is Impacting The High Speed Steel Market | Size, Business Revenue Forecast, Leading Competitors And Growth Trends 2031") to deploy its European windstorm model and help clients better capture the expected loss impact from each event in real-time.

Further natural disaster events to have occurred elsewhere during January include:

- A powerful storm system and significant cold impacted much of the central and [eastern United States](https://www.financedigest.com/eu-considers-more-funds-for-eastern-states-in-bid-for-deal-on-russia-oil-ban.html "EU considers more funds for eastern states in bid for deal on Russia oil ban") during the first week of January, killing at least 22 people. Total economic damage was estimated at USD1.1 billion, while public and private [insurers were expected to pay](https://www.financedigest.com/are-you-getting-what-you-are-paying-for-when-it-comes-to-cyber-liability-insurance.html "ARE YOU GETTING WHAT YOU ARE PAYING FOR WHEN IT COMES TO CYBER LIABILITY INSURANCE?") up to USD750 million in claims.
- Numerous areas of low [pressure and extended periods](https://www.financedigest.com/pressure-relief-valve-market-is-expected-to-register-highest-cagr-of-3-5-during-the-forecast-period-2021-to-2031persistence-market-research.html "Pressure Relief Valve Market Is Expected To Register Highest CAGR Of 3.5% During The Forecast Period 2021 to 2031:Persistence Market Research") of frigid temperatures affected Northern and Eastern China. The greatest impacts were noted to the agricultural sector in Jiangsu, Anhui, Hebei, and Hunan. The Ministry of Civil Affairs (MCA) cited [winter weather](https://www.financedigest.com/winter-weather-could-be-mild-german-met-office-dwd-says.html "Winter weather could be mild, German met office DWD says") damage of at least USD1.8 billion.
- Additional wintry weather led to casualties and damage in Japan, India, Nepal, Canada, and Lebanon.
- Heavy rainfall swept across the state of California, prompting flash flooding, mudslides and debris flow in areas previously impacted by major December 2017 wildfires, killing at least 21 people. An official assessment from Cal Fire cited that 129 single family residences and six commercial [properties](https://www.financedigest.com/analysis-crisis-radar-falls-on-fault-lines-in-europes-commercial-property.html "Analysis-Crisis radar falls on fault lines in Europe’s commercial property") were destroyed and another 307 homes and 17 commercial properties were damaged. Total economic damage was [expected to reach well into the hundreds of millions](https://www.financedigest.com/pallet-boxes-market-is-expected-to-reach-us-184-5-million-in-2022-exhibiting-growth-at-cagr-of-5-7-for-2022-28-fmi.html "Pallet Boxes Market is expected to reach US$ 184.5 million in 2022, exhibiting growth at CAGR of 5.7% for 2022-28: FMI") (USD).
- Persistent heavy rainfall recorded in Northern and Eastern France led to flooding along [multiple rivers and streams](https://www.financedigest.com/passive-income-how-to-build-multiple-streams-of-income.html "Passive Income: How to Build Multiple Streams of Income"), with some of the most notable impacts occurring in the Île-de-France region. Preliminary damage assessments suggested that the cost of the current flooding may [reach the hundreds of millions](https://www.financedigest.com/application-specific-integrated-circuits-market-expected-to-reach-usd-33545-7-million-by-2026-tmr.html "Application Specific Integrated Circuits Market Expected To Reach USD 33,545.7 Million By 2026 – TMR") (EUR).
- Other flood events were noted in Canada, [Democratic Republic](https://www.financedigest.com/alloy-partners-with-fiat-republic-to-democratize-fraud-free-crypto-trading-and-simplify-fiat-access.html "Alloy Partners with Fiat Republic to Democratize Fraud-Free Crypto Trading and Simplify Fiat Access") of Congo, Mozambique, and Philippines.
- Two [powerful cyclones in the South West Indian Ocean led to widespread damage](https://www.financedigest.com/shelling-damages-zaporizhzhia-nuclear-plants-backup-power-line-iaea.html "Shelling damages Zaporizhzhia nuclear plant’s backup power line -IAEA"). Cyclone Ava left at least 73 people left dead or missing in Madagascar, while Cyclone Berguitta caused extensive damage in Mauritius and La Reunion.
- A magnitude-7.1 earthquake struck just offshore Peru’s northern coast on January 14, killing at least two people, injuring 137 others, and damaging or destroying 2,541 homes and other structures.

To view the full [Impact Forecasting January 2018 Global Catastrophe Recap report](https://www.financedigest.com/industrial-catalytic-converter-market-size-share-forecast-report-2027-covid-19-impact-analysis-fmi.html "Industrial Catalytic Converter Market Size, Share, Forecast Report – 2027 – COVID-19 Impact Analysis | FMI"), please follow the link:

[http://aon.io/2FVWwb4](http://aon.io/2FVWwb4)


---
This blog is powered by Superblog. Visit https://superblog.ai to know more.
---