Catastrophe insured losses already at $70bn says Swiss Re.

(From InsuranceNewslink.com)

Based on first half 2011 events, 2011 will be the year with the highest insured earthquake losses in history.

2011 ranks already as the second costliest year for insured catastrophic losses.

According to preliminary sigma estimates from Swiss Re, total insured losses for the global insurance industry from natural catastrophes and man-made disasters reached an estimated $70bn in the first half of 2011. This is more than double the figure of $29bn for the first six months of 2010. Claims from natural catastrophes alone reached $67bn in the first half of 2011, compared to $27bn. …