News Non-Life24 Sep 2018

Macau:Insurance claims from Typhoon Mangkhut reach around US$25m

24 Sep 2018

Insurance claims for Typhoon Mangkhut have reached MOP200m ($25m), according to the latest figures from the Insurance Supervision Department of the Monetary Authority of Macao (AMCM).

Some 220 Typhoon Mangkhut related insurance claims had been filed totalling some MOP200m, the Authority revealed in a written reply to Macau News Agency (MNA).

A representative of AMCM told MNA that the data might be updated by the Insurance Supervision Department as data about the typhoon continues to be collected, with the Authority clarifying their latest data are from 19 September – three days after the passage of the super typhoon.

Mr Victor Lai, a financial manager at insurer AXA Group, told MNA that the property insurance sector would be more likely affected than life insurance.

Typhoon Mangkhut caused 40 injuries although no deaths were reported, according to the head of the Unitary Police Service (SPU), Ma Io Kun. The figure was low compared to the passage of Typhoon Hato last year, which caused 10 deaths locally as well as losses of some MOP12.55bn.




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