{"id":9605,"date":"2011-07-11T21:07:01","date_gmt":"2011-07-11T21:07:01","guid":{"rendered":""},"modified":"2011-07-11T21:07:01","modified_gmt":"2011-07-11T21:07:01","slug":"Japan-quake-makes-2011-costliest-year-to-date-","status":"publish","type":"post","link":"https:\/\/asiancemagazine.com\/?p=9605","title":{"rendered":"Japan quake makes 2011 costliest year to date"},"content":{"rendered":"<p><strong>Japan&#8217;s devastating earthquake and tsunami in March are set to make 2011 the costliest year on record for natural disasters<\/strong>, German insurance giant Munich Re said on Tuesday.<\/p>\n<p>Total economic losses for the first six months alone were US$265 billion, easily exceeding the US$220 billion recorded for the whole of 2005, previously the most expensive year to date, Munich Re said.<\/p>\n<p>The total loss amount was more than five times higher than the average of the past 10 years. <strong>Losses to insurance firms were some US$60 billion, nearly five times the average since 2001.<\/strong><\/p>\n<p><strong>The 9.0-magnitude quake on March 11, the strongest ever registered in Japan, caused losses of 210 billion euros and killed 15,500 people, making it the costliest natural catastrophe on record<\/strong>.<\/p>\n<p>First-half losses are generally lower than second-half losses, which are often affected by hurricanes in the North Atlantic and typhoons in the Northwest Pacific, it added.<\/p>\n<p>The total number of loss-relevant natural events in the first six months of 2011 was 355, somewhat below the average for the previous 10 years of 390.<\/p>\n<p><strong>The next costliest natural disaster in the first half of 2011 was a severe earthquake that shook Christchurch, New Zealand<\/strong>, in February, causing US$20 billion in losses, Munich Re said.<\/p>\n<p><em>Source AP<\/em><br \/>\n<!--break--><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Japan&#8217;s devastating earthquake and tsunami in March are set to make 2011 the costliest year on 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