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Global economic losses from catastrophes $46 bn in H1

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During the first half of 2015, the global natural disaster losses from both insured and economic loss perspective were each below the 10-year (2005-2014) average, as reported by CFO Innovation.

The results were revealed in a report by Aon Benfield's catastrophe model development team 'Impact Forecasting'.

Natural catastrophes resulted in insured losses of $15 billion, 47% below the 10-year average of $28 billion.

Meanwhile, economic losses stood at $46 billion, 58% below the 10-year average of $107 billion.

The costliest disaster type was severe thunderstorm that accounted for 49% of the insured loss and 33% of the economic loss.

The United States represented the majority of insured losses at 73%, followed by Asia Pacific with 14% of the insured loss and Europe, Middle East & Africa with 11%.

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