69 Munich Re: Press release 4 January 2018. also significantly exceeded the previous year’s figure of US$ 51 billion and the 10-year average of US$ 49 billion. Over two-thirds of all insured losses were accounted for by hurricanes Harvey, Irma and Maria with US$ 92 billion. Further significant losses were caused by forest fires in California and earthquakes in Mexico, which also occurred in the second half of the year.