NEW YORK, March 1 /PRNewswire/ -- More than 300,000 people died in natural
and man-made catastrophes in 2004 -- the tsunami in the Indian Ocean alone
left 280,000 dead or missing. According to the latest study by Swiss Re,
catastrophes caused insured losses totalling USD 49bn worldwide; most of this
figure was due to windstorms in the US and Japan.
Swiss Re's sigma statistics for 2004 identify around 330 natural and
man-made catastrophes worldwide, in which more than 300,000 people lost their
lives. By far the largest number of victims was claimed by the tsunami in the
Indian Ocean: the authorities in the twelve coastal states affected reported
280,000 people dead or missing.
The sigma study just published puts the total losses directly attributable
to these natural and man-made catastrophes at USD 123bn -- of this figure,
USD 49bn was covered by property insurance. For property insurers, 2004 was a
record year in terms of claims, mainly due to windstorms: hurricanes in the US
and neighbouring countries cost insurers around USD 32bn, typhoons in Japan
and neighbouring countries a further USD 6bn.
These record figures were the result of both the unusually high number of
storms -- 13 hurricanes in the US and 10 typhoons in Japan -- and the
increasing concentration of insured assets in highly exposed coastal regions.
Climatologists attribute the high windstorm frequency to above-average
sea-surface temperatures and the high year-round average temperatures measured
in the last decade. 2004 was the fourth-warmest year around the world since
regular temperature measurements started in 1861.
The trend toward increasing concentrations of assets was highlighted by
the damage inflicted by the hurricanes in Florida: the enormous losses of
USD 19bn have to be seen against the background of 70% population growth
between 1980 and 2001; in the same period, the state's gross domestic product
increased by 130%. Further to tables that give an overview of the catastrophes
in 2004, the sigma study also traces the biggest losses since 1970. The
statistics show that, at almost USD 50bn, insured losses have taken on a new
dimension. Unlike in 1992 and 2001, when one-off events such as hurricane
Andrew and the 11 September terrorist attack dominated the claims burden, the
record impact in 2004 was due to an aggregation of several costly losses.
About Swiss Re
Swiss Re is one of the world's leading reinsurers and the world's largest
life and health reinsurer. The company operates through more than 70 offices
in over 30 countries. Swiss Re has been in the reinsurance business since its
foundation in Zurich, Switzerland, in 1863. Through its three business groups
Property & Casualty, Life & Health and Financial Services, Swiss Re offers a
wide variety of products for managing capital and risk. Traditional
reinsurance products, including a broad range of property and casualty as well
as life and health covers and related services, are complemented by insurance-
based corporate finance solutions and supplementary services for comprehensive
risk management. Swiss Re is rated "AA" by Standard & Poor's, "Aa2" by Moody's
and "A+" by A.M. Best.
How to obtain your copy:
English, French, German, Italian and Spanish versions of the sigma study
"Natural catastrophes and man-made disasters in 2004: more than 300,000
fatalities, record insured losses" are available electronically at
swissre.com.
Printed editions of sigma Nr. 1/2005 can now be ordered. English, French,
German, Italian and Spanish versions are now available, those in Chinese and
Japanese will be ready soon. Please send your orders, complete with your full
postal address, to sigma@swissre.com. You can also order by phone or fax:
Zurich: Phone + 41 43 285 2551 Fax +41 43 285 4749
New York: Phone +1 212 317 5135 Fax +1 212 317 5455
Hong Kong: Phone +852 25 82 5691 Fax +852 25 11 6603
SOURCE Swiss Re
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Related links:
http://www.swissre.com
CONTACT:
Aurelia Zanetti, Zurich, tel.
+41-43-285-2544, Thomas Holzheu, New York, tel. +1-212-317-5190,
Clarence Wong, Hong Kong, tel. +852-2582-5693, Group Media
Relations, Zurich, tel. +41-43-285-7171 or Michael McNamara,
Swiss Re Media Relations, tel. +1-212-317-5663, +1-917-807-7136,
michaeld_mcnamara@swissre.com
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