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Hurricanes turn 2017 as worst year for insurers as they lose $135 bn

Last year's hurricanes Harvey, Irma and Maria in the United States and Caribbean, wildfires in California and earthquakes in Mexico destroyed homes, infrastructure and numerous lives

Reuters  |  FRANKFURT/MUNICH 

Insurers will have to pay claims of around $135 billion for 2017, the most ever, following a spate of hurricanes, earthquakes and fires in North America, according to a report published on Thursday. German reinsurer Munich Re, in its annual natural catastrophe review, also said last year's total losses, including those not insured, were $330 billion, the second-worst in history after 2011 when an earthquake and tsunami wreaked havoc in Japan. Although individual events could not be linked directly to climate change, global warming is playing a role, Munich Re said. It ...

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First Published: Thu, January 04 2018. 19:16 IST
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