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Catastrophes cause more than $428 million in insured losses in South Africa

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Pieter Visser, catastrophe analyst at insurance broker Aon South Africa (Pty.) Ltd., said that catastrophes caused more than 5 billion South African rand ($428 million) in insured losses in the country in 2017, Randfontein Herald reported. "Reinsurers do not regard South Africa as a low catastrophe risk region anymore, with the country having experienced a high frequency of large loss events in the last five years," Mr. Visser said.

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