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Natural catastrophe activity in August was dominated by historic floods in Pakistan destroying over 1.25 million homes, with economic losses expected to approach $20bn, according to the latest Cat Recap Report by the Aon Benfield Impact Forecasting team.

In what has been described as the worst flooding in Pakistan's history, the report says over 6.9 million hectares (17 million acres) of crop lands were submerged. Preliminary economic loss and reconstruction costs could approach PKR1.73tn, or $20bn.

In Europe in August,...

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  Pakistan floods could cost $20bn
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