NU Online News Service, Jan. 4, 3:50 p.m. EST

Munich Re said 950 natural catastrophes in 2010 caused about $37 billion in industry-wide insured losses, an estimate that is relatively in line with an earlier estimate of $36 billion by Swiss Re.

Munich Re said overall losses from these events, including those not insured, are estimated at $130 billion. The number of catastrophes was the highest since 1980 and exceeded the average for the last ten years of 785 events, the global reinsurer said.

As major 2010 events, Munich Re mentioned earthquakes in Haiti, Chile and central China, a summer heat wave in Russia, and floods in Pakistan.

Recommended For You

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • 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
NOT FOR REPRINT

© Touchpoint Markets, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more inforrmation visit Asset & Logo Licensing.