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Europe has experienced an uptick of insured losses from severe weather.
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The Italian hailstorm event in the summer 2023 saw estimated losses nearly triple.
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The firm now predicts six major hurricanes and 24 tropical storms.
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Forecasters have warned that a number of meteorological factors could make this year the most active on record.
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Most years since 2014 have seen at least one named storm before 1 June.
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The outlook calls for an 85% chance of an above-normal season.
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The total economic cost from the catastrophe is estimated to be EUR9bn.
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This takes pre-tax cat losses for the calendar year to $1.23bn
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The ratings agency warns that wildfire is an increasingly risky and unpredictable peril.
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The carrier experienced a benign Q1 for catastrophic loss activity.
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Storms struck the Great Plains, the Midwest and the Southeast.