Earthquakes and powerful storms contributed to making 2016 the worst year for insured losses since 2012, according to Munich Re.
In a report released today, the reinsurance giant said that insured losses for the year were $50bn worldwide, representing some 30 percent of the economic loss, which totalled $175bn.
Both overall and insured losses for 2016 exceeded the inflation-adjusted 10-year average amounts, which were $154bn and $45.1bn respectively.
After removing small occurrences, some 750 relevant loss events were recorded in...
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