(Corrects figure in headline, also in second paragraph corrects
to $20.2 billion from $10.2 billion)
* Flood-related economic damage currently $5.6 bln - Aon
* Floods are Australia's costliest ever natural disaster
(Writes through, adds detail)
LONDON, Feb 3 Australia's floods could cause
total economic losses of up to $20.2 billion, making them the
costliest natural disaster in the country's history, reinsurance
broker Aon Benfield said on Thursday.
Weeks of severe flooding in eastern Australia have caused
economic damages of $5.6 billion so far, and repairing and
rebuilding costs could push the total bill to between $10.1
billion and $20.2 billion, Impact Forecasting, a unit of Aon
Benfield, wrote in a report.
Preliminary insured losses from the disaster are $1.6 bln,
Impact Forecasting said, citing figures from the Insurance
Council of Australia.
Analysts have previously estimated that insurers will have
to pay out about $6 billion in claims as a result of Australia's
floods, with Cyclone Yasi, which struck the country's north-east
coast on Wednesday, generating another $3.5 billion.
Munich Re (MUVGn.DE), the world's top reinsurer, on Thursday
unveiled a drop in its annual profit because of high natural
disaster costs, including 270 million euros ($372 million)
related to Australian flood damage incurred in the final quarter
of 2010. [ID:nLDE7112JJ]
(Reporting by Myles Neligan; Editing by David Holmes)