Natural Catastrophe Losses Rise to $37 Billion, Munich Re Says
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The cost to insurers of natural disasters increased by more than two-thirds to $37 billion last year from 2009, according to Munich Re, the world’s biggest reinsurer.
Insured losses exceeded the annual average of $35 billion over the preceding 10 years and compared with $22 billion in 2009, the Munich-based company said in an e-mailed statement today. Overall losses from natural disasters more than doubled to $130 billion in 2010 from a year earlier, Munich Re said.