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Allianz ship total losses plunge to record low

Latest figure marks a reduction of more than half from the 98 seen in 2017, and was driven by a significant fall in hotspots around the world and lower weather-related losses after a quieter year of hurricane and typhoon activity. Asia however remains a cluster with one in four losses occurring there

The overall number of reported shipping incidents was almost flat at 2,698 in 2018, with machinery damage the leading cause, accounting for more than $1bn in marine insurance claims in five years

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