Insurers paid out US$50b for natural disasters in 2016
[FRANKFURT] Insurers paid out around US$50 billion for natural disaster claims last year, reinsurer Munich Re said on Wednesday.
It was the costliest twelve months for natural catastrophe losses in the last four years, the world's largest reinsurer said in its annual review of natural catastrophes.
The insured damage last year was above both the US$27 billion registered in 2015 and the 10-year average of US$45.1 billion, Munich Re said.
REUTERS
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Banking & Finance
Great Eastern chairman appeals for patience as shareholders fume over share price ‘disaster’
S&P Global first-quarter profit beats estimates on strong product demand
Thai banks cut rate for some borrowers after push from PM
Money laundering accused who faces 22 charges to plead guilty on May 14
BNP Paribas beats estimates as lower costs offset trading slump
Japan brokerage Daiwa’s Q4 profit more than doubles as markets recover