First-Half Disasters Set Loss Record, Munich Re Says

Insurers’ losses from natural catastrophes, including the February earthquake in Chile, totaled $22 billion in the first half of the year, more than double the average for the period since 2000, Munich Re said.

Insured losses surpassed the first-half record from 2008 and compare with $11 billion reported for the same period last year, the Munich-based company said in an e-mailed statement today. Total economic losses from natural catastrophes amounted to $70 billion in the first six months of 2010, the world’s largest reinsurer said.