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The drought in Brazil was the third-most expensive natural catastrophe in the world during the first half of 2014, leading to economic losses of $4.3 billion, Aon Benfield Inc. said.
Severe winter weather in Japan during February and the Balkan peninsular flooding in May were named the top two most costly disasters at $6.25 billion and $4.5 billion respectively, BNamericas reported. Insured losses from global disasters for the period amounted to $22 billion.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
2. Zurich Insurance to stop underwriting new oil and gas projects
3. Bermudan, European reinsurers to suffer major hit from bridge collapse
4. Tycoon gets death sentence for multi-billion-dollar fraud
5. Inflation drives 10% increase in sum insured for windstorms
6. Apple loses bid to throw out $977M lawsuit over app store fees