Overview of catastrophes in 2010 Total economic losses were estimated at approximately USD 218bn Total economic losses in 2010 were Natural catastrophe and man-made disasters cost society approximately USD 218bn in USD 218bn Asia was the region with 2010. Economic losses were highest in Asia, where floods of unpred the highest losses at USD 75bn. sions caused damages of approximately USD 75bn. The earthquakes of Chile and Haiti caused losses for latin America and the Caribbean to soar to more than usd 53bn Economic loss estimates from man-made disasters were more than usd 24bn most of which were attributed to the explosion of the Deepwater Horizon oil rig in April. British Petroleum( BP)stated it had set aside USD 41bn for the event, including punitive dam- ages which are not included in the sigma numbers. sigma initially allocated approxi- mately USD 20bn to the overall direct economic losses caused by the explosion Economic loss Economic loss by region and as a of GDP Region in USD m as a of gDP Latin America and Caribbean 1.10% 0.19% North amerie Oceania/Australia 13131 0.95% 0.31% Source: Swiss Re Economic Research& Consulting Swiss Re, sigma No 1/20114 Swiss Re, sigma No 1/2011 Overview of catastrophes in 2010 Total economic losses were estimated at approximately USD 218bn Natural catastrophe and man-made disasters cost society approximately USD 218bn in 2010. Economic losses were highest in Asia, where floods of unprecedented dimen￾sions caused damages of approximately USD 75bn. The earthquakes of Chile and Haiti caused losses for Latin America and the Caribbean to soar to more than USD 53bn. Economic loss estimates from man-made disasters were more than USD 24bn, most of which were attributed to the explosion of the Deepwater Horizon oil rig in April. British Petroleum (BP) stated it had set aside USD 41bn for the event, including punitive dam￾ages which are not included in the sigma numbers. sigma initially allocated approxi￾mately USD 20bn to the overall direct economic losses caused by the explosion. Economic loss Region in USD m as a % of GDP Asia 74 840 0.28% Latin America and Caribbean 53378 1.10% Europe 35204 0.19% North America 20551 0.13% Oceania/Australia 13131 0.95% Africa 337 0.02% Seas/Space 20623 – World Total 218064 0.31% Source: Swiss Re Economic Research & Consulting Total economic losses in 2010 were USD 218bn. Asia was the region with the highest losses at USD 75bn. Table 1 Economic loss by region and as a % of GDP