Natural catastrophes cost insurers $37 billion in 2010, a year that saw above-average devastation and loss of life from severe earthquakes, storms and record high temperatures, Munich Reinsurance Co. said Monday.

Overall losses amounted to $130 billion, slightly above average for the past 10 years, Munich Re said in a statement. Some 950 natural catastrophes were recorded last year, the second-highest number since 1980 and far higher than the annual average of 785 during the past 10 years, the reinsurer said.

The February 2010 earthquake in Chile was the year’s most expensive natural catastrophe, resulting in economic damages of $30 billion and insured losses of $8 billion, Munich Re said.

The earthquake that hit Haiti the previous month caused significant damage and loss of life, but generated only negligible insured losses.

The United States was spared hurricane damage last year despite an above-average number of storms, but hurricanes caused substantial damage in Mexico, Munich Re said. The most expensive was Hurricane Karl, which caused $150 million in insured losses.

Peter Höppe, head of Munich Re’s geo risks research unit, said global warming likely is a factor in storm activity. Warm ocean temperatures have provided ideal conditions for frequent and intense hurricanes, he said in the statement.

“That is in line with the trend of the past 30 years, in which all ocean basins show an increase in water temperatures,” Mr. Höppe said. “This long-term trend can no longer be explained by natural climate oscillations alone. No, the probability is that climate change is contributing to some of the warming of the world’s oceans.”

Munich Re said although the 2010 hurricane season appeared benign, there were 19 named tropical cyclones, 12 of which reached hurricane status.

“The number of storms was indeed well above average. It is just that it is impossible to forecast whether and where such storms will make landfall,” Mr. Höppe said.

The global distribution of natural catastrophes was comparable to previous years’, Munich Re said. The American continent saw the most catastrophes with 365 last year, while 310 occurred in Asia. Europe experienced 120, Africa saw 90 and Australia/Oceania had 65.

The most expensive event in Europe was Windstorm Xynthia, which caused $3.1 billion in insured losses, according to Munich Re.