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Tianjin blasts costliest man-made disaster in Asia: Report

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Allianz Global Corporate & Specialty S.E. has said in a report that the Tianjin blasts are "the costliest man-made disaster in Asia's history," reports The Business Times.

Losses of $3.25 billion from the explosions amount to nearly half of total global losses in 2015, the report said. "2015 marks the third consecutive year that the world's largest man-made losses have come from Asia," added the report.

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