Natural Disasters causes $175B in Damage in 2016

Only 30% of losses were insured

LONDON (CNNMoney) - Earthquakes in Japan. Devastating floods in China. A deadly hurricane that swept across Haiti.

These disasters helped push the total damage caused by natural catastrophes to $175 billion in 2016, according to the German reinsurance firm Munich RE.

The global cost was the highest in four years. Only 30% of the losses -- $50 billion -- were insured, according to Munich RE.

The costliest disasters were in Asia. Two earthquakes in Japan combined to produce $31 billion in losses, while floods that struck China during the summer caused $20 billion in damage.

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