Business interruption

The typhoon was the strongest storm to hit the Chinese province of Zhejiang since 2015.

Around half this total would be borne by the National Flood Insurance Program.

The UK state reinsurer completed the $50mn (£40mn) retro placement after the introduction of landmark legislation meant it could offer the cover for the first time.

The CEO of Aon Securities predicted that larger firms will continue growing at a faster rate than smaller counterparts.

Ten months on from Typhoon Jebi, there is still considerable uncertainty around why the storm’s insured losses are expected to be so much higher than the initial modelled figures.

Pool Re is likely to issue a new cat bond but will wait for volatility in the ILS market to settle down first, CEO Julian Enoizi said.

The CEO of Arch puts Jebi industry loss estimate at $13bn.

AIR's European storm insured losses estimates have been consistently more than those of their counterparts.

Former Marsh broker Richard Green has joined as regional head of the alternative risk transfer business.

The firm's latest figure for the storm is up from a $25.7bn estimate reported by this publication in June.

A previous estimate of $2bn to $4.5bn was released just prior to landfall.

Insured losses arising from Typhoon Mangkhut are expected to fall between $1bn-$2bn, risk modelling firm AIR Worldwide has said.