Global economic losses from disasters fell 44% to $US36 billion ($50 billion) in the first half of the year, Swiss Re’s preliminary estimates show.

About $US20 billion ($27 billion) of the bill was borne by insurers.

Natural catastrophes accounted for $US34 billion ($46.8 billion) and man-made disasters $US2 billion ($2.8 billion).

Winter Storm Friederike in Europe was the costliest event, with economic losses of $US2.7 billion ($3.7 billion).