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A report by Aon Benfield has found that global insured catastrophe losses totaled $54 billion in 2016, the highest since 2012, Artemis.bm reports.
Four perils — floods, severe weather, earthquakes, and tropical cyclones — accounted for 85%, or $46 billion of these losses. Severe weather was the costliest peril in 2016 in terms of insured losses at $19 billion, or 35% of the total insured loss.