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Catastrophes cost $37B, insurer says

Several major natural catastrophes in 2010, including three severe earthquakes, led to the sixth-highest number of insurers’ losses since 1980, a leading reinsurer says.

Several major natural catastrophes in 2010, including three severe earthquakes, led to the sixth-highest number of insurers’ losses since 1980, a leading reinsurer says.

Munich Re AG said in its annual review that insured losses came in at $37 billion US, up from $22 billion in 2009. It said total economic losses, including losses not covered by insurance, rose to $130 billion from last year’s $50 billion.

Altogether, a total of 950 natural catastrophes were recorded last year, including five “great natural catastrophes”: The earth- ­quakes in Haiti, Chile and central China; the heat wave in Russia; and the floods in Pakistan.

 
 
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