Annual global climate-related losses to reach $450 bln — FT

Annual global climate-related losses to reach $450 bln — FT Against this backdrop, the insurance industry is covering an increasingly smaller share of the total estimated damageLONDON, September 1. /TASS/. Annual global losses from climate change could reach $450 bln in a "typical year" in the coming years and rise even further in catastrophic years, the Financial Times (FT) reported, citing US analytics company Verisk Analytics (VA). Two years ago, such losses from natural disasters, including damage to expanding infrastructure, totaled $320 bln, according to UN estimates. Meanwhile, new data from risk modeling company VA show that as much as 62% of global losses from natural disasters, averaging around $279 bln, are uninsured. The rising losses reflect the growing impact of climate change. Against this backdrop, the insurance industry, faced with mounting losses from catastrophic risks, is covering an increasingly smaller share of the total estimated damage. Major insurers have also withdrawn entirely from some regions, declining to renew policies in areas facing growing risks. The magnitude 7.7 earthquake that struck Myanmar in March 2025 caused an estimated $12 bln in damage, of which insurers covered less than $100 mln, according to Verisk Analytics. Losses from the July 2025 floods in Texas, which killed 130 people, were estimated at $1.1 bln, but most of the damage was uninsured. Eastern Economic ForumNATO turns Arctic into zone of military confrontation — Russian diplomatRussia sees provocative actions posed by the flights of strategic bombers, Alexander Grushko saidRead more180 Ukrainian drones taken down over Russian regions during dayThe Ukrainian UAVs were intercepted over 10 Russian regionsRead moreWorld thirsts for peace, growth — XiThe Chinese leader noted that the world was undergoing unprecedented rapid changes, not seen in a centuryRead moreMaduro posts photo of him in prisonVenezuelan President addressed it to his grandchildren and childrenRead moreMass rollout of digital ruble begins in RussiaAt the first stage, the country's largest banks will offer their clients the ability to conduct transactions using the digital national currency, while all credit institutions will join the system by September 2028Read morePutin congratulates Kazakh leader on results of parliamentary electionsThe Russian leader noted the high voter turnout which had demonstrated people's support of Kassym-Jomart Tokayev's course toward Kazakhstan’s further developmentRead moreRussia's first AI law comes into forceThe law regulates relations involving the development, deployment and use of AIRead moreRussian billionaires’ wealth falls by $19.77 bln since start of 2026 — BloombergAccording to the news agency's estimate, Mikhail Prokhorov recorded the largest decline in wealth among Russian index participants, losing $6.45 bln to $10.1 blnRead moreRussia welcomes any country’s efforts to help bring peace to Ukraine — KremlinDmitry Peskov added that so far the Kiev regime has been unwilling to be influenced by any mediatorsRead moreSCO has become independent center of emerging multipolar world — PutinThe Russian president emphasized that today, the SCO is effectively the largest regional association not only on the Eurasian continent but globallyRead moreTrump says China ‘relatively inactive’ on Strait of HormuzThe US president added that he has "a very good relationship" with Chinese President Xi JinpingRead morePutin to take part in SCO summit, hold bilateral meetingsThe SCO summit will officially begin on the morning of September 1Read moreRussia’s stance unchanged on Moscow’s readiness to receive Zelensky — KremlinPresident Vladimir Putin said that if Vladimir Zelensky wants negotiations, he can come to Moscow, Dmitry Peskov recalledRead moreRussia considers NATO risks 'on the water, on the ground, in the air' in military planningRussian Deputy Foreign Minister Alexander Grushko said that Moscow was observing the continued expansion of NATO infrastructure northward and was factoring these developments into its defense planningRead moreFACTBOX: Aftermath of Ukrainian drone attack on Russian regions, 516 UAVs neutralizedThe UAV attack damaged facilities in the port area of Ust-Luga in the Leningrad Region, where a fire broke outRead moreChina ready to deepen energy cooperation with Russia, including Power of Siberia 2 — MFAGuo Jiakun noted that Beijing is "ready to work with Russia to continuously deepen practical bilateral cooperation based on the principles of mutual respect and mutual benefit"Read moreIraq rejects proposal to keep coalition forces beyond September 30 deadlineGovernment spokesman Haider al-Aboudi said did not specify which country put forward the proposalRead moreUkraine unable to intercept new models of Russia’s Geran drones — newspaperAccording to an article in The Guardian, the new-model drones have a cruising speed of about 400 kilometers per hour, roughly twice that of the piston-engine versionRead moreRussia struck energy, transport infrastructure used in Ukrainian army’s interestsRussian air defense forces intercepted and destroyed 766 Ukrainian unmanned aerial vehicles and seven smart bombs over the past 24 hours, the Defense Ministry reportedRead moreShanghai Cooperation Organization summit kicks off in Kyrgyzstan's capitalKyrgyz President Sadyr Japarov has already greeted Russian President Vladimir PutinRead moreRosatom building 16 out of 28 reactors abroad in SCO countries, CEO saysAccording to Alexey Likhachev, units in China, India and other countries are currently in the commissioning phaseRead moreUS ‘big enough’ to handle threats globally, vice president saysJD Vance commented on reports of weapons shortages affecting the US ability to respond to threatsRead moreTrump rules out use of nuclear weapons against IranThe US president explained that "there's no reason for it"Read moreSCO countries support reform of international financial architecture — declarationAccording to the Bishkek Declaration, the countries will continue to develop a practical dialogue on strengthening financial cooperation within the framework of the SCO Interbank ConsortiumRead moreRussia, Uzbek presidents discuss bilateral relations, joint projectsThe leaders also hailed the 12% growth in bilateral trade this year Read moreRussian, US finance chiefs discuss bilateral cooperation — Russian Finance MinistryThe G20 Finance Ministers and Central Bank Governors Meeting is taking place on August 31 and September 1 in Asheville, USARead moreTalking about mediation in Iran war still difficult — KremlinDmitry Peskov said the situation unfolding in the Persian Gulf around Iran will be discussed on Tuesday by Russian President Vladimir Putin and his Iranian counterpart Masoud PezeshkianRead morePutin informs Indian PM Modi about Russia’s special military op progress — KremlinThe Russian leader had a meeting with the Indian Prime Minister in BishkekRead moreIRGC say they downed MQ-9 drone over Strait of HormuzThe drone was taken down in the eastern part of the Strait of HormuzRead moreUS seriously considers use of nuclear weapons in Europe — Russian MFAAccording to Andrey Belousov, Washington’s efforts to initiate discussions on Russia’s non-strategic nuclear weapons serve to divert international attention from what he described as the threat posed by US nuclear weapons stationed in EuropeRead moreAt least five US military aircraft flying over Persian GulfBoeing KC-135R Stratotankers and Boeing KC-46A Pegasuses "are flying at an altitude of about eight kilometers, including along corridors designated for civil aircraft," a source in the Middle Eastern air traffic control services saysRead moreOver 6,000 Ebola cases recorded in Democratic Republic of CongoThe death toll from Ebola during the current outbreak stands at 2,911Read morePutin urges students to believe in themselves in Knowledge Day messageThe Russian president noted that today’s school and university students "are the ones who will continue our great Motherland’s track record of victories and achievements"Read moreRussian air defenses down over 90 Flamingo cruise missiles in summer — TASS estimatesThe largest number of the missiles was shot down in a single day on August 15Read moreDeath toll from Nepal’s landslide rises to 974 — TVChina Central Television did not provide information on the number of injuredRead moreRussia adds over 100 mln carats to diamond reserves since start of yearHead of Rosnedra Oleg Kazanov noted that reserve additions are driven not only by new deposits but by additional geological exploration and the reassessment of existing depositsRead moreKiev military steps up attacks on Russian civilian targets — Russian diplomatRodion Miroshnik said the number of enemy strikes on civilian targets increased to nearly 1,200 per day last weekRead moreMutual benefit shapes Russia-Kyrgyzstan cooperation — PeskovDmitry Peskov noted that it is beneficial for Kyrgyzstan to be a member of the Eurasian Economic UnionRead moreElections in Russia and readiness to receive Zelensky in Moscow: Kremlin's statementsDmitry Peskov stressed that Moscow is still ready to receive Ukraine’s Vladimir Zelensky for negotiations on the Ukrainian conflict while Russia’s position on this issue has not changedRead moreUS Army Secretary Driscoll submits resignation — newspaperAccording to the report by The Wall Street Journal, the official is expected to leave the Pentagon in the coming daysRead moreRussian Aerospace Forces destroy up to platoon of Ukrainian troops in Kherson RegionThe Russian Aerospace Forces struck the enemy with FAB-1500 and FAB-500 bombsRead moreIran relocates missile production facilities to safer places — IRGCAccording to adviser to the IRGC commander-in-chief Mohammad Reza Naqdi, the production sites are now operating with the use of the most advanced technologies and increased production capacityRead moreSix members of banned organization Jehovah's Witnesses convicted of extremism In MoscowTo date, more than 30 members of the Jehovah's Witnesses organization have been involved in criminal cases in Moscow and the Moscow Region for their participation and involvement in the activities of an extremist organizationRead moreKiev’s mobilization plans show Ukraine lies about battlefield losses — mediaThe head of Vladimir Zelensky’s office earlier said that Ukraine needed to recruit at least 30,000 people a month to maintain troop strengthRead morePutin describes relations with Kazakhstan as ‘two-way street’The Russian president noted that trade between the two countries had grown in 2026Read moreMusk not letting Kiev use Starlink against Russia without White House’s consent — FTAccording to the newspaper, the businessman explicitly stated his position in a conversation with former Ukrainian Defense Minister Mikhail FyodorovRead moreAmbassador to Belgrade doubts The Hague court to release details of Mladic’s deathAleksandar Vranes noted that there were no justice for Serbs in The HagueRead moreKalashnikov unveils model of new AK-12+ assault rifle at EEFThe rifle uses 5.45 mm ammunitionRead moreIN BRIEF: Change in effective date of new key rate and economic development scenariosThe regulator will change the effective date of the new key rate from Monday to WednesdayRead morePoland scrambles fighter jets to escort Russia’s Il-20 aircraft over Baltic SeaDefense Minister Wladyslaw Kosiniak-Kamysz emphasized that Polish airspace was not violatedRead morePutin arrives at Bishkek's Yrys Ordo Congress Hall for SCO summitThe Russian president was welcomed by Kyrgyzstan’s leader Sadyr JaparovRead moreSCO continues to expand as countries share same ideas — Kremlin spokesmanDmitry Peskov specified that the participants adhere to an approach "based on mutual respect rather than rules imposed by a boss on vassals"Read moreUS requests public comments on Russia's WTO complianceInterested parties are requested to submit written comments or applications to participate in a public hearing scheduled for October 14, with a deadline of October 1Read moreIN BRIEF: What is known about detention of two Russians working for Ukraine in CrimeaAccording to the FSB, two Crimean residents were recruited by officers of the Ukrainian army’s special operations force via a popular messengerRead moreOver 200 prominent Israelis urge PM to end West Bank violence — newspaperThe New York Times reported that the letter was signed by two former prime ministers, more than three dozen retired Army and Air Force generals, the former heads of the nation’s foreign and domestic intelligence services, as well as rabbis, a Nobel laureate and one of Israel’s most revered novelistsRead moreUkrainian army carries out 24 attacks on DPR in past day, injures civilianThe attacks damaged five residential buildings, along with several trucks and special-purpose vehicles, as well as seven civilian infrastructure facilitiesRead moreZelensky speaks with US envoys over phoneAccording to the head of the Kiev regime, the parties discussed "setting a date for a visit to Ukraine"Read moreZelensky boosts peronal security — expert"The paranoid mood of the illegitimate Ukrainian president has intensified ahead of the so-called Ukrainian Independence Day and continues to this day," Andrey MarochkoRead moreRussia moving toward Ukrainian conflict settlement — PutinThe Russian leader also thanked Narendra Modi for sharing his expectations for Vladimir Putin’s upcoming visit to the BRICS summit in New Delhi in SeptemberRead morePolyus' adjusted net profit under IFRS falls 59% to $829 mln in 1H 2026The company's revenue for the reporting period grew by 27% year-on-year to $4.7 billionRead moreGlobal sports won't 'bend' to 'whims' of individual nations — Russian Olympic chiefMikhail Degtyarev underscored that the major competitions on the IOC calendar would be organized where there were no obstacles for individual participantsRead moreTrump says may continue strikes against IranThe US president added that his awareness of serious troubles in Iran "doesn't mean we won't smack them" Read moreLionel Messi says he's retiring from Argentina's national teamLionel Messi said it was a decision that hurt deep insideRead moreThe Hague deprived Mladic medication after his family refused euthanasia — ambassadorGeneral Ratko Mladic died in a UN prison in The Hague on August 27Read moreRosatom plans to expand construction of small-scale, large NPPs in Iran, CEO saysAccording to Alexey Likhachev, a second group of specialists is preparing to return to the Bushehr NPPRead moreKremlin urges people to ignore ‘fake news’ in Western media, to focus on front realitiesThe fact is that nowadays, both less reputable publications and more reputable publications, as well as publications that were once reputable, do not shy away from any kind of fake news, Russian Presidential Spokesman Dmitry Peskov said Read moreDefense industry facilities in Kiev, port infrastructure: Russian forces' massive strikeA gas station was damaged in the Obukhov district in the Kiev regionRead moreGoing visa-free with China, Ukraine peace: Putin meets with China, India leadersThe Russian leader stressed that Moscow was making efforts to end the Ukrainian conflictRead morePutin hails Modi’s role in strengthening Russian-Indian relationsThe Russian president stated that he was pleased to meet with the Indian prime minister againRead moreCooperation between Moscow and Beijing develops in all areas — PutinThe Russian president specified that Moscow and Beijing are implementing major projects in the energy sector, industry, space, transport and logisticsRead moreTrump says wants to get on with everyone when talking about inviting Russia to G20 eventsThe US president added that "getting along with everybody" is "one of the reasons that I'm so successful"Read morePlan for further regulation of digital platforms approved in RussiaThe government’s subcommittee on the development of digital platforms has approved the roadmap for legislative initiatives for 2026-2027Read moreUS considers limited strikes against Iran in Strait of Hormuz region — AxiosAccording to sources cited by the portal, the US goal is to prevent Iran from reconstituting its radar and missile capabilities to attack shipsRead moreSCO leaders sign Bishkek Declaration — organizing committeeIn addition to the declaration, 27 other documents were signed, including the regulations on the Universal Center for Countering Challenges and Threats to the Security of SCO Member StatesRead moreSber expects 2026 profit significantly higher than last year’sAccording to Taras Skvortsov, the growth rate could be slightly below 20%Read morePutin’s talk with Pashinyan to be pragmatic, respectful — KremlinThe Armenian prime minister now has different views on the possible future configurations for his country, but cooperation with Moscow brings great benefits to the Armenians, Russian Presidential Spokesman Dmitry Peskov saidRead moreOPEC+ seven's quota rises by 188,000 bpd in SeptemberThe production quota reached 31.01 mln bpdRead moreSerbia thankful to Russia for helping fight wildfiresAccording to the Emergencies Ministry, its Il-76 aircraft was operating in Serbia’s Kolubara District on MondayRead moreCall to prevent conflicts, not using finance as weapon: Putin’s statementsThe Russian leader said that Russia is ready to host the 7th World Nomad Games in Kazan in 2028Read moreTanker struck by three projectiles in Hormuz Strait — British maritime security authorityAccording to the statement, no casualties or environmental impact has been reportedRead moreUS uses fewer weapons against Iran than provided to Ukraine under Biden — TrumpAccording to the US president, Washington gave Ukraine over $300 billion worth of ammunition during this periodRead moreHundreds of Ukrainian military warehouses located in residential buildings — diplomatRussian Foreign Ministry Ambassador-at-Large for the crimes of the Kiev regime Rodion Miroshnik stated that Kiev uses Ukrainians as human shieldsRead moreUkraine hiding truth about its casualties from public, arms suppliers — Crimea sourcesGeneral mobilization has been in effect in Ukraine since February 2022 and has been extended repeatedlyRead moreUS Treasury chief rules out agreements with Russia until Ukraine conflict ends — agencyAccording to a source cited by Reuters, Scott Bessent told Russian Finance Minister Anton Siluanov that no economic relief for Russia or agreements on other issues were possible until the conflict was overRead moreKiev finds it increasingly difficult to protect its energy, military facilities — governorKherson Region Governor Vladimir Saldo sees Mikhail Fyodorov’s proposal to the Americans as a piece of creative bargaining to get new weapons deliveries and investmentsRead moreRussians top overall medals standings at IFBB World Fitness Sport Games in TurkeyThe Russian national bodybuilding team was represented at the competitions by 16 athletesRead moreKalashnikov to unveil model of its latest AK-12+ assault rifle at Eastern Economic ForumThe weapon will be on display in the Voin Center pavilion at the Far East Street exhibitionRead moreEU fails to create jungle vs garden opposition in world — senior Russian senatorKonstantin Kosachev commented on Spanish PM Pedro Sanchez's remarks that Russia is allegedly involved in the migration crisis in the Spanish enclave of CeutaRead moreChina successfully conducts first launch of Pallas-1 carrier rocketThe rocket’s flight proceeded normallyRead moreTrump claims about 30 ships pass through Strait of Hormuz every night with US assistanceThe US president noted that "a lot of oil is coming out," and the price has not increased as some forecasts had predictedRead moreUkraine's agricultural exports nearly halve month-on-month in AugustAugust exports dropped to 1.726 million tons from 3.287 million tons in JulyRead moreRussia, Kazakhstan never had major problems in relations — TokayevAccording to Kazakh President, if any minor conflicts arose, they were due to "purely economic disputes"Read moreEU preparations for State Duma election provocations, plans to null results — SVRAccording to the intelligence service, the West has mobilized "all the ‘weapons’ from the arsenal of anti-Russian aggression" to destabilize the country ahead of the electionsRead moreNew Russia sanctions bill faces opposition in US — PoliticoAccording to the newspaper, its future prospects are unclearRead moreMilitary from local special forces units took part in mutiny in Niger — Russian diplomatThe uprising was suppressed by the authorities with the assistance from the Russian defense ministry’s Africa CorpsRead moreRussian forces hit over 150 vessels carrying military supplies to Ukraine in summerMore than 80 targets were hit in JulyRead morePress review: EU mulls Russia-linked tanker seizures as US deal opens Venezuela oil accessTop stories from the Russian press on Monday, August 31stRead moreRussian forces liberate 91 communities in special operation zone over summerThe data shows that Battlegroup North liberated the largest number of communitiesRead moreHungary backs creation of ‘security corridor’ on NATO’s eastern flank — agencyHungarian Foreign Minister Anita Orban emphasized that Hungary would not become a "weak link" in NATO, as it is "firmly committed to the principles of unity and solidarity within the alliance"Read moreEastern Economic Forum begins in Russia’s VladivostokThe forum will be held from September 1 to 4Read moreCooperation between Russia and India constantly reaches new frontiers — ModiThe Indian prime minister stressed that moving forward together had been the shared visionRead more