Weather
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Tokyo is among some of the prefectures worst hit by Typhoon Trami, RMS said.
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The six typhoons in Japan this year could weaken the creditworthiness of the country’s three insurance giants.
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Modelling firms have put an average $3.8bn loss estimate on private market claims from Hurricane Florence.
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Conservative initial loss picks may have helped limit adverse development from the 2017 hurricanes, according to JLT Re.
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The city of Osaka sustained most of the losses.
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The National Hurricane Center predicted catastrophic freshwater flooding as the eye of the hurricane touched down at Wrightsville Beach. -
The storm is expected to produce storm surges of up to 7 m in coastal areas, the Philippines government said.
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Florence will cause between $3bn and $5bn in insured wind and storm surge losses, CoreLogic estimated.
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The analyst estimated the continental (re)insurers are each on course to take 5% of losses from the Category 2 hurricane heading for the Carolinas.
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Category 4 Hurricane Florence continues to approach the Carolina coastline though may slow down by late Thursday, the NHC said.
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The Category 4 storm could leave up to $12bn in insured losses, analysts said.
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AIR issued a range of $2.3bn-$4.5bn for the event which struck Japan on 4 September at the equivalent of a Catastrophe 3 hurricane.
