ZURICH (Bloomberg) ? Natural and man-made catastrophes in 2006 cost insurers $15 billion in losses, the lowest amount in almost a decade, according to Swiss Reinsurance Co.

?After years of record losses, property insurers appear to be getting off lightly in 2006,? Swiss Re, the world?s largest reinsurer, said today in a study. Insured losses were the third-lowest since 1997 and 1988, the Zurich-based company said.

Two April tornadoes in the US and typhoon Shanshan, which hit Japan in September, were the only events to cause insured losses of more than $1 billion this year, Swiss Re said. About 30,000 people died in 140 natural catastrophes and more than 200 man-made disasters. Earthquakes, particularly in Indonesia, caused the most fatalities. Economic losses totalled $40 billion.

?Windstorms and floods also claimed more than 11,500 lives in 2006,? led by a mud and rubble slide in the Philippines in February and last month?s typhoon Durian, which killed more than 1,350 people in Vietnam and the Philippines, the report said.

?No major industrialised regions have been hit by earthquakes and very expensive man-made disasters ? such as aircraft crashes or large-scale fires ? have been conspicuous by their absence,? Swiss Re said.

The costliest insured catastrophes in 2006 and the events that caused the most fatalities, based on Swiss Re?s study, are listed below:

(Event, Cost, Country/Region)

Tornado (April 13) $1.72 billion, US

Tornadoes (April 6) $1.28 billion, US

Typhoon Shanshan (September 12) $1.03 billion, Japan

Tornadoes, Floods (March 11) $920 million, US

Storms, Hail, Floods (October 23), $560 million, US

Tornadoes, Hail (April 2), $500 million, US

Most Fatal Events in 2006

(Numbers refer to dead and missing)

Event Victims Country/Region Earthquake, Bantul (May 27) 5,778, Indonesia

Typhoon Durian (November 26) 1,350, Philippines

Cold spell, power cuts (January 15) 1,333, Eastern Europe

Ferry al-Salam sinking (February 2) 1,026, Egypt

Train collision (April 23) 1,000, North Korea