LONDON (Reuters) – The cost to insurers of catastrophes almost halved to some $44 billion this year, despite a doubling in deaths caused by events such as Typhoon Haiyan, Swiss Re said on Wednesday.
Haiyan was the event causing the highest loss of life this year, resulting in the death of more than 7,000 from some of the strongest winds ever recorded when it struck the Philippines in November.
But Swiss Re noted the bill for insurers was likely to be low because few of those affected had cover.
The company said the total loss of life in 2013 from disasters rose to around 25,000 from 14,000 a year earlier. Yet the cost of damage dropped to $130 billion from $196 billion, while insured losses – the cost to insurers from claims – was estimated at $44 billion, down from $81 billion.
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