Economic losses from natural and man-made catastrophes in 2007 were more than $70 billion (Dh294bn), with insurers hit by claims amounting to $28 billion, according to research released on Tuesday by Swiss Re, the world's largest reinsurer.
Europe was hit hard by the Kyrill storm in January, which caused insured losses of $6.1 billion across Germany, Britain, Belgium and the Netherlands.
The summer floods in Britain caused a further $4.8 billion in insurance claims, said Swiss Re.
The United States emerged unscathed from major hurricanes. The most expensive event was an April windstorm, which cost insurers $1.6 billion.
The most lethal disaster was Cyclone Sidr, which hit Bangladesh in November, causing 4,234 deaths.
Swiss Re said higher catastrophe claims were expected going forward, particularly from floods. (Reuters)
Catastrophes cost $70bn in 2007: Swiss Re