2002 below average for catastrophe losses

Report says financial losses due to man-made and natural catastrophes in 2002 returned to more average levels.

An annual special edition of Swiss re's Sigma report says that overall, in comparison to 2001, 2002 suffered less in terms of losses of lives and property due to natural and man-made catastrophe.

Lives lost due to catastrophe totalled 19,000 in 2002, against the loss of 33,000 lives in 2001. Almost half the lives lost in 2001 were due to the January 2001 earthquake that hit the Gujarat region.

In 2002 total economic losses due to naturalman-made disasters is estimated by Swiss Re to be about $40 billion. This is below the average recorded since 1990 of $68 billion. It is also below the totals for 2001, which are still...

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