While 2007 was not a landmark year in terms of catastrophes, statistics show an upward trend in the number and cost of natural and manmade disasters, according to a recent Swiss Re sigma study.
The study says that worldwide there were 143 natural catastrophes and 193 manmade disasters in 2007. These resulted in the loss of 20,000 lives and $70 billion in economic losses. Property insurers paid out $28 billion in insured losses.
The top five most costly events in terms of insured losses were all natural catastrophes. In total, insurers paid out over $23 billion for natural catastrophes in 2007, Swiss Re found.
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