Swiss Re: cat bill $75 billion
Economic losses from catastrophes topped $US70 billion ($75.1 billion) last year, with insurance claims of $US28 million ($30 million), according to Swiss Re.
More than 20,000 people died as a result of natural and man-made catastrophes.
Swiss Re says 2007 was not an exceptional year for fatalities or losses, but expects flooding to contribute to increased claims in future.
During the year Europe was hit hard by natural catastrophes. Winter Storm Kyrill caused insured losses of $US6.1 billion ($6.5 billion), while the UK floods cost a further $US4.8 billion ($5.1 billion).
The deadliest event was Cyclone Sidr in Bangladesh, claiming 4234 lives.
Insurers paid more than $US23 billion ($24.7 billion) for natural catastrophes and more than $US4 billion ($4.3 billion) for man-made disasters such as industrial fires and aviation losses.
More than 20,000 people died as a result of natural and man-made catastrophes.
Swiss Re says 2007 was not an exceptional year for fatalities or losses, but expects flooding to contribute to increased claims in future.
During the year Europe was hit hard by natural catastrophes. Winter Storm Kyrill caused insured losses of $US6.1 billion ($6.5 billion), while the UK floods cost a further $US4.8 billion ($5.1 billion).
The deadliest event was Cyclone Sidr in Bangladesh, claiming 4234 lives.
Insurers paid more than $US23 billion ($24.7 billion) for natural catastrophes and more than $US4 billion ($4.3 billion) for man-made disasters such as industrial fires and aviation losses.