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Catastrophe Losses in 2016 Were Highest in Four Years

Almost 30 percent of last year's losses were insured, while the uninsured losses remained substantial at 70 percent.

Earthquakes in Asia and Italy, flooding in the United States, Asia and Europe, and a deadly hurricane along with wildfires in Canada made 2016 the costliest 12 months for natural catastrophe losses in the last four years, according to reinsurer Munich Re.

Losses totaled $175 billion, a good two-thirds more than in the previous year, and nearly as high as the $180 billion total in 2012.

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