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Asian insurance penetration still lagging


A report by U.S.-based risk-modeling firm AIR Worldwide Corp. said that only 9% of catastrophe losses are insured in Asia, compared to the global average of 24%, Asia Insurance Review reports. The report also said that insured and economic average annual losses from catastrophes totaled $12 billion and $133 billion, respectively, in Asia, while the global figures stood at $92 billion and $394 billion, respectively.

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