First Half 2010 Insured Catastrophe Losses Set a Record

Posted on July 8, 2010 by Mark Nation

According to Munich Reinsurance Co, natural catastrophes caused record worldwide insured losses of $22 billion for the first half of the year, more than double the average for the period since 2000.

There were 440 catastrophic events through June, the second-highest number since 2000, Munich Re said.  

The three biggest losses were earthquakes in Haiti and Chile and Windstorm Xynthia in Europe. Combined, the catastrophes caused $11.55 billion in insured losses, according to Munich Re. 

Natural catastrophes in the first half of this year caused 230,000 fatalities, far higher than the average of 30,000 for the period recorded from 2000 through 2009, Munich Re said.

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