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Munich Re: market weathers $50bn nat cat bill in 2016

4 January 2017

Insured natural catastrophe losses totalling $50bn were driven by a series of devastating earthquakes and powerful storms during 2016, according to Munich Re.

In a report released today (4 January) the reinsurer said 2016 was the costliest year for nat cat losses since 2012, with economic losses totalling $175bn - two-thirds higher than 2015 and close to the 2012 total of $180bn.

Both overall and insured losses for 2016 exceeded the inflation-adjusted 10-year average amounts, at $154bn and $45.1bn respectively...

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