How much will Typhoon Faxai cost to insurers?

Japanese non-life insurers has estimated the damage caused by Typhoon Faxai at nearly 300 billion JPY (2.78 billion USD). MS&AD Insurance Group Holdings and Sompo Holdings, the two largest insurance companies, alone expect a bill of 100 billion JPY (929 million USD).

Typhoon Faxai, which hit the Tokyo area on September 9, 2019, claimed the lives of two persons and injured many others. The material damages affected mainly the city of Chiba.

In 2018, a similar natural disaster [4], Typhoon Trami, cost insurers 306.1 billion JPY (2.77 billion USD).