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Member, Beacon International Group, Ltd.
Munich Reinsurance Co. has warned that the threat of losses from severe thunderstorms in Europe is on the rise, Artemis.bm reported.
This is due to increasing intensity of thunderstorms, a potential rise in frequency and the growing vulnerability of buildings to hail damage, said Munich Re. The reinsurer's warning suggests that insurers, reinsurers, and insurance-linked securities funds' exposure to the peril is also increasing, reports Artemis.bm.