News Asia20 Sep 2018

Hong Kong:Typhoon Mangkhut expected to drag insurance industry into the red

20 Sep 2018

Typhoon Mangkhut's trail of destruction across Hong Kong and south China looks set to escalate Hong Kong-based insurance claims, pushing the industry back into underwriting loss, says S&P Global Ratings. The compounded effects of wind and storm surges will likely drive claims for property damage, business interruption, and autos. Furthermore, the inward reinsurance from Macau will further propel underwriting loss.

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