$370 Billion Econ. Losses for 2011; $116 Billion Insured, Says Swiss Re

Although everyone is more or less aware that 2011 was a very bad year for losses from natural catastrophes, the figures compiled by Swiss Re evince just how bad they actually were. In its latest sigma study the reinsurer points out that the $370 billion in economic losses were the highest in history. 2011 also holds the record for the highest insured earthquake losses — from the Japanese earthquake and tsunami — at $49 billion. Just for good measure the series of floods that hit Thailand set a new record for insured flood losses at $12 billion.