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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, Artemis.bm 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.