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Swiss Re Says Disasters Caused $130 Billion of Losses

Swiss Re AG, the second-largest reinsurer worldwide, said natural and man-made catastrophes in 2013 caused $130 billion in economic losses tied to floods, hailstorms and other events.

Insured losses fell to $44 billion from $81 billion a year earlier, Swiss Re said in a statement. The most costly disaster was flooding in European nations including Germany that probably caused $18 billion in economic losses and $4.1 billion in insured losses, followed by Hailstorm Andreas in Germany and France with $3.8 billion in economic losses and $3.4 billion in insured losses.