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Europes summer floods & storms drive US $16bn+ of industry losses: Cresta

October 4, 2021

The severe floods across Europe in July 2021 are estimated to have caused an insurance and reinsurance industry loss of US $11 billion, according to organisation Cresta, while convective storms in June added another US $5.1 billion to the summer loss tally for the continent.

Updating its CLIX (CRESTA Industry Loss Index) figures for the third-quarter, the organisation calls the European floods the largest international industry loss in 2021 to-date.

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