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Cat bonds continue to take hit from previous disasters

Hurricane Irma

U.S.-based consultancy firm Lane Financial L.L.C. said that lifetime catastrophe bonds' losses increased more than 3% to $2.5 billion in the first quarter due to loss creep related to natural disasters from prior years, reports. The consultancy firm said that insurance losses for catastrophes such as the September 2017 hurricane Irma and the September 2018 typhoon Jebi have doubled from initial estimates.

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