Global reinsurer Swiss Re released figures today assessing catastrophe damages from the first half of the year, claiming 2011 already ranks as the second-costliest year ever for insured catastrophe losses with $70 billion tallied globally.

2005 still stands as the costliest ($120 billion) year for catastrophic losses; Hurricanes Katrina, Wilma and Rita alone incurred $90 billion in losses.

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