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Japanese insurers expect to pay out $830 million for typhoon claims

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Japan's three largest nonlife insurers anticipate around 100 billion Japanese yen ($830 million) in damage-related payouts following a recent series of typhoons and torrential rains that has hit the country, reported Nikkei Asian Review.

The three insurers are MS&AD Insurance Group Holdings Inc., Sompo Japan Nipponkoa Insurance Inc. and Tokio Marine Holdings Inc. Payments associated with floods and mudslides caused by rains linked to typhoon Etau have been pegged at JPY 30 billion ($249 million). Claims related to typhoon Goni that hit the country in August have been estimated at about JPY 70 billion.

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