Natural catastrophes and man-made disasters in 2008: North America and Asia suffer heavy losses

Sigma no. 2/2009:

This study details the toll of disasters that made 2008 "one of the worst years for catastrophe losses"; it asserts that global and regional insurers and reinsurers play an essential part in the further establishment of insurance in Asia, by sharing their knowledge and expertise and by helping to absorb the area’s rising risks.

According to the report, 137 natural catastrophes and 174 man-made disasters occurred in 2008. Asia suffered the most in terms of the number of lives lost, while the US was worst hit in regard to insured property losses. Europe was less impacted with only minor losses compared to last year.