Typhoon Hagibis related claims could reach Faxai's level

Analysts at U.S.-based investment banking firm Keefe, Bruyette & Woods Inc. said that typhoon Hagibis-related claims could reach the levels of typhoon Faxai, Artemis reports. Claims for both the typhoons could be enough to accelerate reinsurance rate increase in April next year, the analysts said. The two typhoons coming so close together is also likely to exacerbate demand surge and additional expenses for insurers.

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