Typhoon Mangkhut insured losses up to $2bn

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.

After making landfall in the Philippines mid September, Typhoon Mangkhut doused a relatively less densely populated agricultural area of Luzon with 300 mm (12 inches) of rain—with some regions receiving 700 mm (27 inches) of rain—as it trekked across the northern tip of the island, weakening as it interacted with land. By the time it had crossed Luzon into the South China Sea later that day, September 15, Mangkhut had weakened to the intensity of a Category 3 storm.

“The storm continued northwestward across the South China Sea over Sunday, September 16, with wind speeds of about 160 km/h (100 mph),” said Peter Sousounis, vice president and director of meteorology, AIR Worldwide. “As it moved toward landfall in mainland China, Mangkhut bypassed Hong Kong and Macau. The center of the typhoon passed 130km west of Hong Kong and 70km west of Macau, both of which felts its effects due to a massive wind field; hurricane-force winds extended 160 km from its center and tropical storm force winds extended 510 km from its center. Storm surge was as high as 3.38 metres in Tai Po Kau, Hong Kong.”

Glass windows on commercial skyscrapers in Hong Kong were shattered and contents were damaged; authorities said hundreds of windows were smashed across the city. The storm tore off roofs, downed trees, toppled signs, and produced wind-borne debris.

In the resort city of Macau, the largest gambling hub in the world, all casinos were ordered to close for the first time ever. Power was cut to about 20,000 households in low-lying areas and the inner harbor. Extensive flooding impacted the area, rising above head height in some locations and damaging buildings and contents.

Along the coast of southern China, strong winds caused high rises to sway and blew out windows. Heavy precipitation and storm surge flooded coastal hotels and businesses; thousands of vehicles also suffered flood damage.

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