SWISS RE CAT ESTIMATES FOR 2000

Swiss Re published the following preliminary estimates of the losses caused by natural and man-made catastrophes in the year 2000: 17,000 lives were lost, direct losses were around $38 billion, and $11 billion in insured losses.

The estimates, which will be fully set out in a Swiss Re Sigma report, expected in March, indicate a significant decrease last year in insured losses, which topped $31 billion in 1999, the second worst year on record.

Only one event, the Tokai floods in Japan, exceeded the $1 billion threshold, as opposed to seven in 1999. Random selection had a lot to do with it, states the report. There were no major earthquakes in populated areas in 2000 and fewer major windstorms.