Catastrophes Kill 220,000, Cost $200 Billion in 2008

More than 220,000 people lost their lives in natural catastrophes in 2008. Economic losses totaled $200 billion. Contributing factors included China's earthquake; severe winter storms in Europe and China; 1,700 tornadoes and six named storms in the US.

Asia was the hardest hit region in loss of life. Cyclone Nargis, which struck Myanmar, claimed 135,000 lives. Another 88,000 were killed in the Chinese province earthquake.

Hurricanes Ike and Gustav were the most expensive events for insurers in 2008, according to figures in a Munich Re Group report. Insurers paid out $20 billion, which is estimated to be half of the price tag in total losses. Ike accounted for $15 billion in damages while Gustav racked up $5 billion.

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