WRAPUP 5-Europe insurers, travel firms tally tsunamis&#39; cost
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European insurers face new costs and travel companies could lose business after tsunamis killed more than 22,000 in southern Asia this weekend, but the financial
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Insurers seek to calm fears that they face huge losses after an earthquake and giant waves killed at least 23,000 people in southern Asia.
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Natural and man-made catastrophes cost the global insurance sector 25 billion dollars (17.4 billion euros) in 2007, an increase of 9.0 billion dollars over 2006, Swiss reinsurer Swiss Re said Tuesday.
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Chicago Tribune - The Indian Ocean tsunami that has wrought such awesome destruction upon the poorest nations of Asia also hit hard in wealthy Europe.
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FRANKFURT: German insurance companies said Monday it was too early to assess the costs from the deadly tidal waves that battered South Asia at the weekend.
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Thousands of European tourists in Asian beach resorts were listed dead or missing in the wake of the tidal waves that engulfed the region after an earthquake.
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The tsunami catastrophe in South Asia is likely to have caused economic damage of more than 10 billion euros (about $14 billion), compounding what was already the most expensive year in history for insurers, the world&#39;s
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Wednesday's European papers tackle the Asian tsunami disaster, German unemployment and bridge-building between Jews and Muslims.
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Swiss Re has estimated its losses to the Indian Ocean tsunamis at less than 100 million Swiss francs, reinforcing observations that victims of the disaster had little insurance coverage.
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The damage caused by the waves which swept coastlines in South Asia following a seabed earthquake is likely to exceed 10 billion euros(13 billion USD), an insurance expert said.
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Soldiers searched for bodies in  treetops, families wept over the dead laid on beaches and  rescuers scoured coral isles for missing tourists as Asia  counted the cost on Monday of a tsunami that killed more than  15,500.
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U.S. property and casualty insurers are expected to pay $6.5 billion in losses from 23 catastrophes during 2007, much of it from California wildfires, according to ISO, a company that supplies statistical information for the industry.
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European insurers face new costs and travel firms could lose business after tsunami waves killed more than 21,500 in Asia this weekend, but the financial impact is expected to be limited compared with other disasters this year.
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Insurers are having their costliest year since 2001, when the September 11th terrorist attacks in the US led to $26.5 billion in catastrophe claims.
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LONDON -- Throughout Europe, people bowed their heads for a three-minute silence yesterday at noon in remembrance of the more than 150,000 victims of the Dec. 26 earthquake and tsunami. Hundreds of Europeans are known to have died in the devastating tsunami, and thousands remain missing.
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European leaders prepared their citizens for the worst as hopes dimmed for nearly 5,000 tourists, half of them Swedes and Germans, still missing four days after a tsunami tore through some of Asia's most popular beach resorts.
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The tsunami catastrophe in Asia has wreaked economic damage of more than $13.6 billion, the world&#39;s largest reinsurer estimates.