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Global insurers take $1.3 billion hit from Ukraine-Russia war


According to a report by S&P Global Market Intelligence, the global insurance industry has booked an estimated $1.3 billion in aggregate losses and reserve increases related to the Ukraine-Russia war in the first quarter of the year, Port News reported. European insurers and reinsurer have suffered the most from the war, with reinsurer Swiss Re AG taking the biggest hit as it sets aside $283 million in reserves for potential claims related to the war.


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