On 26 December 2004, a magnitude 9.1 earthquake (3.316 N, 95.854 E, depth 30 km) occurred off the coast of northern Sumatra, Indonesia. The tsunami generated by the earthquake was recorded nearly world-wide and killed more people than any other tsunami in recorded history (~228,000 from the earthquake and tsunami). The estimated material losses are $10 billion and insured losses are $2 billion. This is the third largest earthquake in the world since 1900 and is the largest since the 1964 Prince William Sound, Alaska earthquake. The earthquake caused severe damage and casualties in northern Sumatra, Indonesia and in the Nicobar Islands, India.