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Catastrophe losses total $240 billion, hit alternative capital: Aon


U.K.-based Aon P.L.C. said that catastrophes caused more than $240 billion in insured losses worldwide in 2017 and 2018, affecting alternative capital players more than traditional reinsurers, reports. The insurance broker said that traditional reinsurance capital shrank more than 5% year over year to $488 billion while alternative reinsurance capital grew 9% to $97 billion in 2018, Aon added.

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