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US storms fail to flatten industry

Four fierce storms hit the US last month but insured losses were “lower than might have been expected”, according to Aon Benfield subsidiary Impact Forecasting.

Economic losses were “within the expected range for events of this magnitude” at $US100 million ($97.66 million), President Steve Jakubowski says in Impact’s monthly Global Catastrophe Recap.

The storms led to “only a modest number of insurance claims”. They were the largest global loss events last month, with storms in China, tropical cyclones in Madagascar, Tropical Cyclone Rusty in WA and flooding in Peru, Bolivia, Macedonia, Serbia, Greece, Indonesia and the Philippines also causing damage.

The meteor explosion in Russia’s Ural Mountains region caused economic losses of about $US33 million ($32.23 million), the report says.