Global economic losses from drought to top $8 bln

September 3, 2015 2:53 PM

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LONDON, Sept 3 Global economic losses from drought are likely to reach more than $8 billion in the next few months as the El Nino weather pattern intensifies, reinsurance broker Aon Benfield said on Thursday.

Total economic losses from drought in the United States are likely to reach at least $3 billion, mainly due to agricultural damage in California, Aon Benfield said in its monthly catastrophe report.

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