(Reuters) - Natural disasters, such as Japan's earthquake and floods in Australia and Thailand, cost the global economy a record $370 billion in 2011, with losses for the insurance industry the second largest ever, Swiss Re said on Wednesday.

Insured catastrophe losses more than doubled in 2011 to $116 billion, Swiss Re said on Wednesday in its study of natural catastrophes and man-made disasters. That was up from a December forecast for $108 billion.

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