Haiyan Could Prove The Most Devastating Typhoon in History

Typhoon Haiyan has left a trail of devastation across the Philippines, killing an estimated 10,000 people and displacing hundreds of thousands more. Towns including Guiuan and Tacloban have been largely destroyed while rescue efforts have been hampered by severe infrastructural damage.

Even though it is too early to gauge the damage caused by Haiyan, it does appear immense. It spanned more than 500 miles at its peak with winds speeds of 195 miles per hour. It could end up being one of the costliest typhoons ever seen, both in terms of lives lost and devastation caused.

Mireille remains the costliest typhoon in living memory, causing $10 billion of damage when it struck Japan in 1991. Songda comes second after inflicting catastrophic damage and loss of life on Japan and the Mariana islands in August 2004.

Description

This chart shows the costliest typhoons for the insurance industry 1980-2012 (in billion U.S. dollars).

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Assets of the insurance industry Philippines 2013-2023
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Premiums of the insurance industry Philippines 2016-2023
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Insurance industry market size forecast in the UAE 2023-2028 by segment
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Insurance industry market size forecast in Saudi Arabia 2023-2028 by segment
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Total revenue of U.S. life/annuity insurance industry 2009-2022
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Insurance penetration Philippines 2016-2023

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