Global cat losses down more than 50%

Swiss Re Ltd. said that catastrophes across the world caused an estimated $155 billion in losses this year, down 56% from $350 billion in 2017, ABS-CBN News reported citing Agence France-Presse. Swiss Re said that insurance covered about half of the catastrophe losses. The reinsurer said that major natural disasters this year include typhoons in Asia and hurricanes Michael and Florence in North America.

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