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Swiss Re Finds Disasters Of 2008 Made It An Extra Bad Year

Swiss Re totaling up the damage from 2008 said yesterday it was one of the worst years for catastrophe losses with more than 240,500 lost lives and $52.5 billion paid in property claims.

By Harmony Nicole Fortenberry | Updated on March 17, 2009

Swiss Re totaling up the damage from 2008 said yesterday it was one of the worst years for catastrophe losses with more than 240,500 lost lives and $52.5 billion paid in property claims, and worldwide impact on the economy from natural and man-made catastrophes was $269 billion.

According to the firm the year was exceptional in terms of fatalities and losses. And the reinsurer noted statistics confirming a trend toward an increase in the number and costs of natural catastrophes and man-made disasters.

Swiss Re’s latest sigma study, “Natural catastrophes and man-made disasters in 2008,” said there were 137 natural catastrophes and 174 man-made disasters which occurred in 2008.

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