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Brazil flood losses at estimated at $1.4 billion


A.M. Best Co. Inc. has estimated losses from the massive floods that hit Brazil’s Rio Grande do Sul at 7.5 billion Brazilian reals ($1.45 billion), Reinsurance News reported. The ratings firm said that the impact on most insurers and reinsurers will likely to be contained as they retain smaller exposures and have already exited volatile business lines.


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