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International

Just 6% of flood losses in southern China insured: Munich Re

January 11, 2023 Reprints

Germany-based Munich Reinsurance Co. said that the devastating floods that lashed southern China in May 2022 caused an estimated $5 billion in losses, with just $300 million or 6% insured, South China Morning Post reported. In the Asia Pacific region, losses from natural disasters increased to about $70 billion in 2022, with only $9 billion insured.

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Just 6% of flood losses in southern China insured: Munich Re

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