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Cyclone Debbie insured losses likely to reach $1.4 billion: Munich Re

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A report by Munich Reinsurance Co. found that cyclone Debbie caused an estimated $1.4 billion insurance and reinsurance losses, Artemis.bm reports. The insurance industry had earlier predicted that the cyclone, which hit the states of Queensland and New South Wales in Australia in March and April, would result in about $1 billion of insured and reinsured losses. Munich Re has put cyclone Debbie as the second-most expensive natural catastrophe in the first half of the year.

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