Economic and insured natural catastrophe losses in 2009 were lower than in 2008, largely due to a below-average Atlantic hurricane season, but several extreme weather events still caused $22 billion in insured losses worldwide, according to an analysis by Munich Reinsurance Co.

This year featured 850 “destructive natural hazard events” worldwide, the Munich-based reinsurer said Tuesday. Those events caused $50 billion in economic losses and $22 billion in insured losses, compared with $200 billion in economic losses and $50 billion in insured losses in 2008.

During the past decade, the average number of natural hazard events with relevant losses was approximately 770 per year, Munich Re said in a statement, adding that the average economic loss was approximately $115 billion, while insured losses averaged $36 billion.

The United States experienced a high level of individual severe-weather losses, including three storms that caused more than $1 billion in insured losses, according to Munich Re. In total, Munich Re said severe weather events accounted for 45% of global insured losses.

Peter Höppe, head of Munich Re's Geo Risks Research, said in a statement that initial analysis of these events indicates that, “apart from socio-economic factors, (the large losses) are due in part to climate change.”

Winter Storm Klaus, which wreaked havoc in the northern part of Spain and parts of southwest France Jan. 23-25, ranked as the costliest single event of 2009. Insured losses from that event came to $3 billion, while economic losses amounted to $5.1 billion.

Meanwhile, an earthquake that registered a magnitude of 7.6 rocked the Indonesian island of Sumatra on Sept. 30, claiming 1,200 lives.

Since 1950, annual weather-related natural catastrophes on a global level have tripled, according to Torsten Jeworrek, a Munich Re board member who is responsible for the company's global reinsurance business. He added that climate change likely accounts for a “significant share” of the rise in events.

“In light of these facts, it is very disappointing that no breakthrough was achieved at the Copenhagen climate summit in December,” Mr. Jeworrek said in a statement. “We need, as soon as possible, an agreement that significantly reduces greenhouse gas emissions because the climate reacts slowly and what we fail to do now will have a bearing for decades to come.”