Japan’s typhoon blowout
The eighth typhoon of the season battered Tokyo on the weekend, killing five and leaving a trail of destruction in its wake.
Typhoon Ma-on followed two weeks after Typhoon Meari, which killed 27.
Meanwhile damage from Typhoon Songda, which hit Nagasaki in September, is estimated to be about $US2.4 billion.
According to ratings agency Standard and Poor’s, the financial effect on Japanese insurers will be limited due to reinsurance indemnities and catastrophe loss reserves.
Swiss Re says its claims from typhoon Songda could cost it $US110 million before taxes.