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According to a leading re-insurer, disaster losses for insurers nearly doubled in the past year to reach almost $30 billion globally. The main culprits for the massive increase were calamitous winter storms in Europe, flooding in Britain and wildfires in the U.S.

Taking into account weather change, Munich Re anticipates an increased number of catastrophes in coming years and warns, "We should not be misled by the absence of mega-catastrophes in 2007," as "climate change is already taking effect" and "more such extremes are to be expected in the future."

The world's second-largest re-insurer estimates that losses to insurers from natural disasters jumped up to $75 billion this year. During 2006, losses from natural disasters totaled only $50 billion, while 2005 figures climbed up to $220 billion due primarily to Hurricane Katrina's ravaging of New Orleans.

Continue reading Losses from natural disasters double in 2007

Losses from natural disasters double in 2007 originally appeared on BloggingStocks on Thu, 27 Dec 2007 17:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>catastrophesdisasterlossesMunich ReMunichRere-insurersThu, 27 Dec 2007 17:30:00 EST<![CDATA[Thai coup reminds us: disaster is good for traders]]>http://www.bloggingstocks.com/2006/09/20/thai-coup-reminds-us-disaster-is-good-for-traders/http://www.bloggingstocks.com/2006/09/20/thai-coup-reminds-us-disaster-is-good-for-traders/http://www.bloggingstocks.com/2006/09/20/thai-coup-reminds-us-disaster-is-good-for-traders/#commentsFiled under: , , ,

Do traders have souls?

That's a question that always springs to mind when I watch the market buzz surrounding any disaster. Whether it's Hurricane Katrina, the great Tsunami, or this week's coup in Thailand; you'll always see articles like this one in the Wall Street Journal [subscription required]. Teaser: "Analysts React to Thai Coup: 'Bargain Opportunity'"

Lovely. It reminds me of a piece I heard on This American Life, Ira Glass' gripping radio show. A commodities trader recounts his education in chaos after the Chernobyl accident. He got to work late, a little stunned by the news, and was amazed to see the energy level was nearing giddy on the trading floor. "That disaster made more money, in one day, that I had made my entire life up 'til then," he said, chuckling uncomfortably.

Michael Kurtz at Bear Stearns has obviously restrained himself greatly, using words like "regrettable" and "political frictions" and "toll." But you can almost feel a teensy bit of glee sparkling through from the Bear Stearns trading floor (you know those traders are known for their distinct lack of polish, don't you?) when he writes, "Investors have heavily penalized Thai stocks since last year amid deepening political uncertainty, with the benchmark SET Index having gained just 9% in U.S. dollar terms since January 2005; as such, the SETI now elicits some of the region's deepest valuation discounts."

There you have it: scoop up the bargains in Thailand, enjoy the chaos while it lasts. If your soul can handle it.

Thai coup reminds us: disaster is good for traders originally appeared on BloggingStocks on Wed, 20 Sep 2006 13:13:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>chaoscommoditiescommodities traderCommoditiesTradercommodity tradercommodity tradingCommodityTraderCommodityTradingcoupcrisisdisasterdo no evildo traders have souls?DoNoEvilDoTradersHaveSouls?marketsmilitary coupMilitaryCoupsoulthaithai coupThaiCoupthailandthis american lifeThisAmericanLifetradertradingWed, 20 Sep 2006 13:13:00 EST