NU Online News Service, Dec. 29, 1:00 p.m.EST

Global natural catastrophe losses for 2009 are estimated to havecost insurers more than $20 billion, according to assessments fromtwo insurance industry participants.

Munich Re released an assessment today for 2009, estimating thatinsured catastrophe losses amounted to $22 billion, with a severeeconomic loss of $50 billion. This was almost half of last year's$50 billion in insured losses and $200 billion in economiclosses.

In addition, Aon Benfield's "Annual Global Climate andCatastrophe" report, released last week (available atwww.aonbenfield.com), put the insured loss at $20 billion witheconomic losses slightly higher than Munich Re at $58 billion.

Aon Benfield, a subsidiary of Chicago-based insurance broker AonCorp., said catastrophe levels were similar to the past two years,with 222 separate events--compared to 213 in 2008 and 217 in2007.

"Overall, it was a very light catastrophe year, for the thirdyear in a row," Aon said.

Munich Re put the total of natural hazard events at 850, abovethe long-term average of 770. Average economic loss numbers over 10years come in at $115 billion and average annual insured losses at$36 billion, according to the reinsurer.

Notable about 2009 is the "high level of individualsevere-weather losses in the U.S.A," Munich Re said, adding thatthree events alone each caused $1 billion in insured losses. Severeweather losses accounted for 45 percent of global insured losses,the company added.

Aon Benfield observed that there was no single insured lossevent that caused more than $5 billion in insured losses thisyear.

The costliest natural disaster event of 2009 was Winter StormKlaus in January, which primarily affected France and Spain andcost insures $3 billion, according to Munich Re.

That was followed by tornadoes and severe storms in the UnitedStates in February that cost insurers $1.35 billion. Italy roundedout the top-three with an earthquake in April that cost insures$260 million.

However, the effects of climate change were of most concern forboth Munich Re and Aon Benfield.

Aon Benfield noted that 2009 was the fifth-warmest year onrecord, and marked the 32nd consecutive year of above-averageglobal temperatures.

Munich Re said there is a marked increase in the number of majorweather-related natural catastrophes worldwide since 1950, havingnearly tripled from what they were over that period of time.

"Climate change probably already accounts for a significantshare [of these losses]," according to Torsten Jeworrek, a MunichRe board member responsible for global reinsurance business. "Inlight of these facts, it is disappointing that no breakthrough wasachieved at the Copenhagen climate summit in December 2009."

Mr. Jeworrek added that "we need as soon as possible anagreement that significantly reduces greenhouse gas emissionsbecause the climate reacts slowly, and what we fail to do now willhave a bearing for decades to come."