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Cyclone Gabrielle losses pegged at nearly $961 million

Posted On: Mar. 31, 2023 9:53 AM CST


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.