Typhoon Lekima’s insurance and reinsurance industry impact in China is expected to exceed US $855 million (CNY 6 billion), according to catastrophe risk modeller AIR Worldwide.
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Typhoon Lekima is without doubt set to become one of the most expensive natural disaster events to strike China in recent years, with the latest economic damage estimate of approximately US $7.4 billion placing the storm as the second most expensive typhoon to hit China ever.
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Typhoon Lekima has caused deadly flooding and landslides in eastern China, after coming ashore in Zhejiang province on Saturday as a strong typhoon and then travelling north passed Shanghai.
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