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Insured losses from hailstorm expected to surpass $450 million


German actuarial company Meyerthole Siems Kohlruss said that hailstorm Paul caused an estimated $456 million in insured losses, reports. The storm hit parts of Germany on June 22, affecting a wide area of the country with hail stretching for hundreds of kilometers. The loss is unlikely to significantly hit any reinsurance layers on its own, but could erode some aggregate deductibles, MSK said.

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