A quiet year for major catastrophes did not translate into fewer losses for insurers, according to the Xactware 2014 Property Report.

Severe weather damage from wind, hail, lightning and tornadoes was at the fourth-highest level in history, Greg Pyne, Xactware’s assistant vice president of Pricing Data Services, said in a statement. The trend of high damage from severe weather continued to trouble the industry in 2014. Total insured losses due to thunderstorms saw the fourth highest number on record, with $12.3 billion.

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