Tsunami damage above $13.6b

Tsunami damage above $13.6b

The tsunami catastrophe in South Asia has caused economic damage in excess of 10 billion euros ($13.6 billion), a risk research expert at Munich Re, the world's largest reinsurer, was quoted as saying on Tuesday. Gerhard Berz, head of Geo Risk Research at the Munich-based firm, told the German Deutsche Welle television channel that the estimate was based on a "gut feeling", since reliable figures were not yet available. The estimate does not reflect the cost to the insurance industry. -- Reuters