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Natural and manmade catastrophes cost (re)insurers $43bn in 2010, making it the seventh most expensive year for the industry since 1970, according to the latest Sigma study by Swiss Re.

The tally of insured losses was up 60 percent from the relatively benign 2009. Of this total the vast majority ($40bn) came from natural catastrophes, with only $3bn attributable to manmade disasters.

This is partly because the costliest manmade disaster of 2010, BP's Deepwater Horizon oil spill, was largely self-insured...

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