Typhoon Nuri, which had put Hong Kong on high alert but arrived there as a tropical storm, should not create any major losses for insurers there, a modeling firm said.

Boston-based AIR Worldwide said it does not expect any significant insured losses in Hong Kong from Nuri, which came ashore there Friday with maximum sustained winds of nearly 55 mph.

Nuri "weakened before passing almost directly over the city, bringing little more than gusty winds and heavy rain. Damage reports have been restricted to strewn debris, downed trees and, in isolated cases, toppled scaffolding," said Peter Sousounis, senior research scientist at AIR.

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