Munchener Ruckversicherungs-Gesellschaft AG · XETR:MUV2
Munchener Ruckversicherungs-Gesellschaft — Munich Re — Climate Change and Water Investment Conference 2011
17 slides from Munchener Ruckversicherungs-Gesellschaft's conference presentation, Jun 6, 2011
Slide 1: Extreme Weather Events: Are Their Frequency and Economic Impact Rising?
EXTREME WEATHER EVENTS: EVENTS ARE THEIR FREQUENCY AND ECONOMIC IMPACT RISING? Prof. Dr. Peter Hoeppe Head Geo Risks Research/Corporate Climate Centre (GEO/CCC1) Climate Change and Water Investment Conference, London, June 6, 2011 Founded 1880 Largest reinsurer Leading role in reinsurance of n
Slide 2: Munich Re the first alerter to global warming
Munich Re the first alerter to global warming M i hR Munich Re P Publication,1973 bli ti 1973 3 World Economic Forum 2011 • Survey of 580 leaders and decision makers across the globe • Supported by 18 workshops • Assessment A t off 37 global l b l risks for the next 10 year period 4
Slide 3: 2010 one of the warmest years since 1880
2010 one of the warmest years since 1880 5 Observed changes in sea surface temperature in tropical ocean basins with TC activity Sea surface temperatures of six ocean basins with TC activity Five‐year running means (data: 1968 ‐ 2009) 30.0 29.5 Sea Surrface Temperatures [°C]] 29.0 28.5 28.0 North At
Slide 4: 2010: A year of weather extremes
2010: A year of weather extremes • May: Highest ever measured air temperature in Asia (Pakistan) 53.5°C • July: Temperature record for Moscow 37.8°C, 37.8 C, at other places in Russia more than 40°C • August: Wettest August ever recorded in Germany • September: 45°C (113 F) a new record temperature
Slide 5: Record Tornado Season in the US
Record Tornado Season in the US April – May 2011 Region Overall losses Insured losses Fatalities Several States in the US$ >10,000m* >US$ 7,000m* 566 US (PCS Cat 44, 46, 48) * Loss estimation in progress * Loss estimation in progress Source: New York Times © 2010 Münchener Rückversicherungs-Gesellsc
Slide 6: Natural catastrophes worldwide, 1980 – 2010
Natural catastrophes worldwide, 1980 – 2010 Number of events with trend Number 1 200 1 000 800 600 400 200 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 Geophysical events Meteorological events Hydrological events Climatological events (Earthquake tsunami (Earthquak
Slide 7: Natural catastrophes worldwide, 1980 – 2010
NatCatSERVICE Natural catastrophes worldwide, 1980 – 2010 Number of events by peril with trend Number 500 450 400 350 300 250 200 150 100 50 1980 1982 1984 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 Geophysical events Meteorological events Hydrological events (Earthquake tsunam
Slide 8: Global warming will intensify hurricanes
Global warming will intensify hurricanes 15 New study shows causal association between climate change and weather extremes “… Here we show that human-induced increases in greenhouse gases have contributed to the observed intensification of heavy precipitation events found over approximately two- thi
Slide 9: Normalisation of nat cat losses
Normalisation of nat cat losses Normalisation accounts for the fact that population and wealth p per capita p increases over time and that p past disasters would have caused more damage if they occurred nowadays Increasing trend of normalised damages could point in the direction that anthropogen
Slide 10: Observed changes in US severe thunderstorm parameters
Meteorology: Observed changes in US severe th d t thunderstorm parameters t evere-thunderstorm forccing Days with se D CAPE = Convective Available Potential Energy (f(atmospheric stability, humidity) SHEAR = Change of wind direction and wind speed with height NCAR/NCEP Reanalysis data processed in o
Slide 11: Evaluating the economics of climate risks & opportunities in the insurance sector
Evaluating the economics of climate risks & pp opportunities in the insurance sector Collaboration between Munich Re and the London School of Economics Trend analysis of normalised insured damage from natural disasters First study of this kind! p submitted to „Climatic Change“ Paper g byy Fabian Bar
Slide 12: Normalised insured losses from convective events in the United States
Normalised insured losses from convective events in the United States 23 Normalised insured losses from hurricanes in the United States 24
Slide 13: Climate change is a strategic topic for Munich Re
GDV-Study 2011: „Challenge Climate Change“ St Storm and d Hail H il Mean annual ann al loss ratio 1984-2008 1984 2008 in comparison to different future f t re time slices Hail and thunderstorm damages will increase significantly in summertime, especially in eastern Germany Source: GDV „Herausforde
Slide 14: New Munich Re risk cover for renewable energies
New Munich Re risk cover for renewable energies CPV cover Performance warranty arrant co cover er for concentrator photo photovoltaic oltaic ssystems stems (CPV) Innovative cover for SolFocus (leading provider for CPV) SolFocus is the first company that can provide its customers with a warranty
Slide 15: The DESERTEC concept
The DESERTEC concept Origin and Vision Developedp by y the Club of Rome’s TREC Initiative (Trans- mediterranean Renewable Energy Cooperation) Vision: Providing Europe (EU), the Middle East and North Africa (MENA) with a sustainable supply of renewable energy by th year 2050 the “Within 6 hours,
Slide 16: Objectives of Munich Re as initiator of the Dii GmbH
Objectives of Munich Re as initiator of the Dii GmbH Essential contribution to the solution of one of humankind‘s CLIMATE PROTECTION largest problems in this century (global warming) by significant i ifi t reductions d ti off CO2 emissions i i BUSINESS Leading role in developing and providing new ri
Slide 17: Conclusions
Conclusions Natural catastrophes, especially weather-related events, are increasing in number and magnitude. Loss potentials have reached new dimensions. The findings of climate research are robust - global warming is real and most probably caused by anthropogenic emissions of greenhouse gases.
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