Zurich — According to initial estimates, tens of thousands of people were killed by natural and man-made catastrophes in 2007. The catastrophes led to overall financial losses of $61 billion across the globe. Property insurers had to contend with losses totaling $25 billion.

The preliminary estimates of catastrophe losses in 2007, mentioned in the Swiss Re sigma, include three insured losses running into the billions in Europe, two in North America and one in Asia. Although the insured losses, at $25 billion, were $9 billion higher than in the previous year, 2007 is below the long-term loss trend.

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