Natural catastrophes including US hurricane Sandy caused $160 billion worth of damage in 2012, based on estimates by the world's leading reinsurer, Munich Re. About 67% of overall losses and 90% of insured losses were attributable to the US, with the year's highest insured loss caused by Hurricane Sandy, with an estimated amount of around $25 billion, the reinsurer said. Overall, global losses were significantly lower in 2012 than in the previous year, when record figures were posted due to the earthquakes in Japan and New Zealand and severe floods in Thailand, Munich Re continued. In terms of fatalities, about 9,500 people lost their lives in natural catastrophes last year compared with 27,200 in 2011 and a 10-year average of 106,000.
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