Benign weather conditions in the North Atlantic and the arrival of the El Nino phenomenon have contributed to a below average loss season for insurers.

Munich Re says catastrophic losses in 2009 were $US115 billion ($127 billion), including $US36 billion ($39 billion) of insured losses, well below the 10-year average and significantly down on 2008 which recorded insurance payouts of $US50 billion ($55 billion) from natural disasters.

The most expensive insured cat loss of 2009 was from Winter Storm Klaus, causing $US3 billion ($3.32 billion) of damage across northern Spain and southwest France in early January.

More than 10,000 people died from weather events in 2009, also well under the 10-year average of 75,000.

Munich Re Geo Risks Research Head Peter Hoeppe says El Nino, a climate pattern occurring across the tropical Pacific, did not provide ideal conditions for cyclone formation.

El Nino operates on a five-year cycle and causes ocean temperatures to rise across the central and eastern tropical Pacific Ocean. In Australia, El Nino is usually associated with drier conditions and fewer weather-related events.