Losses from cyclone Debbie likely to exceed $1 billion: PERILS

Switzerland-based PERILS A.G. said that cyclone Debbie caused an estimated $1.1 billion insurance and reinsurance losses, Artemis.bm reports. The catastrophe insurance market data provider had earlier predicted that the cyclone would result in nearly $850 million of insurance and reinsurance losses. The cyclone struck parts of Queensland and New South Wales, Australia, in March and April.

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