Japan: Unusually high number of Nat CAT seen in 2018
Source: Asia Insurance Review | Feb 2019
Japan was hit by an unusually high number of weather-related disasters and geophysical natural catastrophes last year, according to a report by global reinsurance giant Munich Re.
Losses from the flooding alone amounted to $9.5bn, of which $2.4bn was insured.
The typhoon season saw a total of seven storms hit or skirt the islands of Japan in 2018. Five of the storms made landfall or came very close to land with typhoon strength and brought with them torrential rainfall. The most severe storm was typhoon Jebi with overall losses of $12.5bn and insured losses of around $9bn, making it one of the costliest typhoons in Japan’s history.
Weather-related catastrophes aside, two earthquakes in Japan caused losses of $9bn in total and insured losses of nearly $2bn. Thanks to the strict building standards in Japan, damage was limited. A