Reinsurance and cat bond cover will limit the earnings hit, but the agency said semiconductor-driven industry clusters could push net losses above 2016's.
Estimates from across the broker and ILS market point the same way, with losses expected to fall short of the quakes that struck the same prefecture a decade ago.
Regional losses of US$8.7bn in H1 came in at about a quarter of the 10-year average, but the reinsurer says strengthening El Niño conditions leave Japan, Korea, Greater China and Australia exposed through...
The figures cover losses from typhoons Maysak and Bavi and wider July flooding, with insurers having already advanced CNY2.89bn (US$427m) to policyholders across Zhejiang, Guangxi and Hubei.