Fewer severe catastrophes and a quiet hurricane season in the North Atlantic in 2014 led to fewer losses from natural catastrophes compared with years prior, according to Munich Re, an insurance group with global operations covering reinsurance, primary insurance and international health business and headquartered in Germany. The most expensive event in terms of overall loss was Cyclone Hudhud in India, which generated about $7 billion in losses.
See also: Overall CAT Losses Low for 1st Half 2014
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