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International

Cyclone Gabrielle losses pegged at nearly $961 million

March 31, 2023 Reprints

Swiss catastrophe data provider Perils AG has pegged its initial industry loss estimate for Cyclone Gabrielle, which caused devastation on New Zealand’s North Island from Feb. 11-17, at $1.54 billion New Zealand ($960.9 million), Artemis reported. The estimate is based only on the property line of insurance business.

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Cyclone Gabrielle losses pegged at nearly $961 million

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