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Aon Benfield has estimated that insured losses for the powerful tornado outbreaks that struck the US in April and May total $15bn - nearly three times the 1990-2010 annual average for severe weather losses.

The report, issued by the reinsurance broker's Impact Forecasting unit, estimated total economic losses during the same period at $21.65bn.

The report was followed today (23 June) by the news that Bermuda-based Aspen Insurance Holdings will take an estimated $60mn in net losses from the storms...

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