SIGMA SEES 2009 AS EXTREMELY BENIGN FOR DISASTERS

Economic losses as a result of natural and man-made catastrophes worldwide have reached just $52bn for 2009, compared with a loss of $267bn in 2008, according to a forthcoming Swiss sigma study. The cost to insurers this year has been just $24bn, below average because of a calm US hurricane season and less than half the losses incurred in 2008. Natural catastrophes contributed about $21bn to the insurers' bill, with man-made disasters adding $3bn. However, Europe suffered above average losses during the year. About 12,000 people died as a result of catastrophes this year — the lowest recorded total in 20 years — compared with 240,000 in 2008. Winter Storm Klaus, which struck parts of Spain and France at the beginning of 2009, was the costliest disaster, with insured losses reaching $3.54bn.