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Catastrophe losses for the first half of 2012 were mild compared to the previous year and notably below the 10-year average, according to a report from Munich Re.

Worldwide natural catastrophe events for the first half incurred $26 billion in economic damage and $12 billion in insured losses, mostly caused by thunderstorms and other weather events in the United States.

In its annual half-year natural catastrophe review, Munich Re says that losses resulting from extreme weather from January through the end of June of this year totaled $10 billion in the U.S., representing 85 percent of worldwide insured losses and 61 percent of overall losses, about a 20-percent increase on both accounts since 1980.

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