Insured losses from Vicente estimated to be $100m to $300m

Economic losses from typhoon Vicente, which struck Hong Kong on 23 July, are expected to be $600m to $1.5bn, catastrophe modelling firm Eqecat said.

However, low insurance penetration in the region means that insured losses from the event are expected to be in the range of $100m to $300m.

The average insurance penetration in China is about 15%

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