Insured losses from catastrophic events were approximately USD 43bn Insured losses due to natural catastrophes Individuals, companies or state institutions absorbed most of the USD 218bn in total were nearly USD 40bn damages caused by catastrophic events in 2010. The cost to insurers was USD 43bn (see Figure 3). Of this amount, natural catastrophes losses accounted for nearly USD 40bn. while man-made disasters accounted for over USD 3bn 120 in USD billion, at 2010 prices Insured catastrophe losses 1970-2010 40 197019 1980198519901995200020052010 Earthquake/tsunami Ten events triggered insured losses of at Overall, ten disasters each triggered insured losses of USD 1bn or more in 2010(see least USD 1bn: the earthquake in Chile Table 4). With insurance losses of USD 8bn, the earthquake in Chile was the costliest was the costliest at USD 8bn vent in 2010, followed by yet another earthquake, which struck New Zealand in Sep tember, causing insured losses of more than USD 4. 4bn. These two events caused the earthquake losses for 2010 to be the second highest ever, surpassed only by 1994 when the Northridge earthquake struck the US causing insured losses of USD 21bn (indexed to 2010).Overall, 2010 ranks as the seventh costliest year since sigma begar collecting data on disasters The 2010 North Atlantic hurricane season With nineteen named tropical storms developing into hurricanes- five of which became was active, but resulted in relatively low major hurricanes -the 2010 North Atlantic hurricane season was one of the most active on record. Hurricanes caused extensive damage in Mexico and the Caribbean but only very moderate damage in the US. This resulted in relatively low hurricane losses when compared to overall insured catastrophe losses. Man-made disasters triggered additional insured losses of USD 3. 6bn in 2010 Insured losses due to man-made disasters The biggest man-made disaster of 2010 was the explosion of the Deepwater Horizon were USD 3.6bn oil rig in the Gulf of Mexico. Insured losses from this disaster were estimated at USD 1bn without liability losses which are not included in the sigma estimates Aviation disasters triggered additional insured losses of more than USD 1bn. Two events-a large fire at an airport warehouse in Saudi arabia in June and the loss of a atellite in October accounted for more than half of these losses Swiss Re, sigma No 1/2011Swiss Re, sigma No 1/2011 5 Insured losses from catastrophic events were approximately USD 43bn Individuals, companies or state institutions absorbed most of the USD 218bn in total damages caused by catastrophic events in 2010. The cost to insurers was USD 43bn (see Figure 3). Of this amount, natural catastrophes losses accounted for nearly USD 40bn, while man-made disasters accounted for over USD 3bn. 0 20 40 60 80 100 120 1970 1975 1980 1985 1990 1995 2000 2005 2010 0 20000 40000 60000 80000 100000 120000 1970 1975 1980 1985 1990 1995 2000 2005 2010 in USD billion, at 2010 prices Earthquake/tsunami Man-made disasters Weather-related catastrophes Source: Swiss Re Economic Research & Consulting Overall, ten disasters each triggered insured losses of USD 1bn or more in 2010 (see Table 4). With insurance losses of USD 8bn, the earthquake in Chile was the costliest event in 2010, followed by yet another earthquake, which struck New Zealand in Sep￾tember, causing insured losses of more than USD 4.4bn. These two events caused the earthquake losses for 2010 to be the second highest ever, surpassed only by 1994 when the Northridge earthquake struck the US, causing insured losses of USD 21bn (indexed to 2010). Overall, 2010 ranks as the seventh costliest year since sigma began collecting data on disasters. With nineteen named tropical storms developing into hurricanes – five of which became major hurricanes – the 2010 North Atlantic hurricane season was one of the most active on record. Hurricanes caused extensive damage in Mexico and the Caribbean, but only very moderate damage in the US. This resulted in relatively low hurricane losses when compared to overall insured catastrophe losses. Man-made disasters triggered additional insured losses of USD 3.6bn in 2010 The biggest man-made disaster of 2010 was the explosion of the Deepwater Horizon oil rig in the Gulf of Mexico. Insured losses from this disaster were estimated at USD 1bn without liability losses which are not included in the sigma estimates. Aviation disasters triggered additional insured losses of more than USD 1bn. Two events – a large fire at an airport warehouse in Saudi Arabia in June and the loss of a satellite in October – accounted for more than half of these losses. Insured losses due to natural catastrophes were nearly USD 40bn. Figure 3 Insured catastrophe losses 1970–2010 Ten events triggered insured losses of at least USD 1bn; the earthquake in Chile was the costliest at USD 8bn. The 2010 North Atlantic hurricane season was active, but resulted in relatively low insured losses. Insured losses due to man-made disasters were USD 3.6bn