Toll of insurance market losses

According to a report issued by Swiss Re, the toll of insurance losses due to natural disasters for the year 2004 reached a record figure of 49 billion USD. The amount of losses caused by the 13 hurricanes which lashed the USA and the Caribbeans is estimated at 32 billion USD, and that of the 10 typhoons which hit the area of Japan at about 6 billion USD. The full concentration of insured properties in a highly risky area accounts for the huge losses endured.

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