Natural catastrophes caused claims of around EUR 60-70 billion in first half

14 September 2011 — Oleg DORONCEANU
Losses suffered by insurance industry in the first quarter of this year exceeded the total claims suffered by the insurers for the whole year 2010 (including the catastrophe in Japan), stated MUNICH Re officials during SVR. Second quarter was much more "relaxed" in this respect, except for the U.S., where there have been several devastating storms.

In the same order of ideas, a SWISS Re report estimated losses caused by natural disasters in the first half to about USD 70 billion, more than double compared to last year. This figure was exceeded only in 2005, when losses reached USD 120 billion, of which USD 90 billion due to storms Katrina, Wilma and Rita.

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