MUNICH (Bloomberg) — Munich Re, the world's second-biggest reinsurer, said losses from natural catastrophes will rise because of climate changes, costing clients more for insurance premiums.

The Munich-based company estimated worldwide insured losses related to natural disasters doubled to about $30 billion in 2007. Catastrophes such as floods and storms led to 15,000 deaths and $75 billion in damages, it said in a statement. Swiss Reinsurance, the largest reinsurer, said last week that catastrophes cost insurers about $25 billion this year.

"All the facts indicate that losses caused by weather-related natural catastrophes will continue to rise" and lead to "higher insurance premiums," management board member Torsten Jeworrek said. "The trend in respect to weather extremes shows that climate change is already taking effect and that more such extremes are to be expected in the future."

The number of natural catastrophes this year rose to 950, the highest since Munich Re began keeping track in 1974. In 2007, one of the warmest years on record, the most costly catastrophe for insured losses was winter storm Kyrill, which battered Europe including Germany in January and caused $5.8 billion in damages.

Insured losses this year, however, remain well below the 2005 level of $99 billion when hurricanes such as Katrina and Rita made it the worst on record for natural catastrophes. No major hurricane has struck the US during the hurricane season in the last two years.

Record rainfall in Britain caused floods in June and July and led to about $6 billion in insured losses. The most deadly disaster globally occurred in November in Bangladesh and India when Cyclone Sidr killed about 3,300 people, Munich Re said.