Devastating floods that swept through NSW and south-east Queensland in February were the fourth most-expensive natural disaster in the world last year, Munich Re’s 2022 natural catastrophe report shows.
The floods, which killed almost two dozen people and ravaged Lismore in NSW’s Northern Rivers region, cost $US6.6 billion ($9.6 billion), according to the global reinsurance company’s report released on Tuesday.
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Michael Read is the Financial Review's economics correspondent, reporting from the federal press gallery at Parliament House. He was previously an economist at the Reserve Bank of Australia and at UBS. Connect with Michael on Twitter. Email Michael at michael.read@afr.com
