FRANKFURT Jan 3 Munich Re on
Thursday said 90 percent of insured losses caused by natural
catastrophes in 2012 were attributable to the United States,
with Hurricane Sandy causing the biggest hit.
The hurricane caused an insured loss of around $25 billion
out of the total $65 billion in insured losses worldwide.
Overall losses from natural catastrophes reached $160 billion in
Munich Re said a series of weather-related catastrophes
caused U.S. claims to swell. Combined insured and uninsured
overall losses in the country accounted for 67 percent of the
worldwide toll, more than twice an average figure of 32 percent.
Insured losses in the United States rose to 90 percent in 2012
from an average of 57 percent.
Swiss Re already said last month the insurance
industry looked set to absorb about $65 billion in catastrophe
claims for 2012, down from a near-record $120 billion a year