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02628 CHINA LIFE
RTNominal up9.060 +0.230 (+2.605%)
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20/09/2018 17:45

[I-bank focus]Typhoon Mangkhut lifts 7bp in P&C claim ratio

[ET Net News Agency, 20 September 2018] Typhoon Mangkhut hit south China over the past
weekend and caused losses across coastal and nearby provinces. The Ministry of Emergency
Management of China has released some loss statistics so far with the direct economic
losses amounting to CNY5.2bn.
Daiwa Research estimated the typhoon has caused around CNY830m in insured losses for
China's P&C insurance industry, based on preliminary information compiled by Guangdong
province.
As a result, the research house estimated the losses from Typhoon Mangkhut to translate
into a 7bp rise in sector-wide 2018 the full-year claim ratio in the P&C insurance
industry. The impact on life insurers would be negligible. (KL)

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