Insurance claims following last week's typhoon in Taiwan aren't in line with the reported damage - so far. The death toll has risen to 121 and hundreds are missing after Typhoon Morakot caused the island's worst flooding in 50 years.

According to reinsurance broker Guy Carpenter, the typhoon sustained winds of 148kmh, dumped a record 2.5m of rainfall and caused mudslides in some areas. It was so large it encompassed the entire island.

It then weakened into a tropical storm before hitting China, where 1 million people were evacuated from coastal areas and thousands of homes were destroyed.

According to statements filed with the Taiwan Stock Exchange, local property and life insurers have so far received few claims.

The island's sole reinsurer Central Re says while the actual insurance loss payment is still being calculated it also expects little impact.