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