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International

Four Japanese insurers to pay out $165.8m for Tianjin explosions

September 23, 2015 Reprints

Four top nonlife insurers in Japan are likely to pay out at least 20 billion Japanese yen ($165.8 million) for the series of at the port of Tianjin, China, last month, reported Nikkei Asian Review.

Sources have said that damage to finished automobiles would constitute a huge portion of the claims.

The blast reportedly caused damage to about 4,700 vehicles owned by Japan's Toyota Motor Corp.

The final damage cost is not yet known as some roads and other facilities remain closed.

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Four Japanese insurers to pay out $165.8m for Tianjin explosions

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