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14 September 2018Insurance

Category 5 super typhoon Mangkhut to batter the Philippines

Typhoon Mangkhut will landfall along the northeastern coast of Luzon, Philippines within the next 20 hours as a very intense category 5 super typhoon, according to Aon’s Impact Forecasting Cat Alert.

Winds reach 280 kph (175 mph) with gusts to 330 kph (205 mph).

After landfall, Mangkhut will undergo significant weakening as it interacts with the mountainous terrain of Luzon, the report said. The system will re-emerge over the South China Sea in the next 30 hours, possibly as a strong category 3 storm.

Environmental conditions are likely to remain favourable through the next 72 hours, and during this time, the system is expected to cross the South China Sea and make landfall in the southern Chinese province of Guangdong. Current projections keep the core of the typhoon to the south of Hong Kong.

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More on this story

Insurance
17 September 2018   Shares in several insurers in Asia have slumped on the back of Typhoon Mangkhut causing devastation in Hong Kong and Southern China.
Insurance
26 September 2018   Industry insured losses from Typhoon Mangkhut in mainland China, Hong Kong, and Macau will be between $1 billion and $2 billion, according to estimates by catastrophe risk modeling firm AIR Worldwide.