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MS&AD expects Hagibis, Faxai-related claims to surpass $3 billion

Typhoon Faxai damage

Japan-based MS&AD Insurance Group Holdings Inc. expects total industry claims related to typhoons Hagibis and Faxai to total $3.36 billion, before reinsurance recoveries, Artemis reports. A significant proportion of the $3.36 billion will fall to international reinsurers and the insurance-linked securities market.

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