Insured catastrophe losses in 2007 were higher than 2006 by $15billion despite the absence of a major catastrophe this year, amajor international insurer said.

Munich Re, in a report posted on its Web site, said insuredlosses by the end of 2007 reached $30 billion, double what theywere in 2006.

In terms of economic loss, Munich Re said the figure stood at$75 billion in 2007, a 50 percent increase from $50 billion in2006. However, the economic loss figures were far below 2005 recordof $220 billion in losses.

Continue Reading for Free

Register and gain access to:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.