(Bloomberg) -- Flooding in China last month caused about$33 billion in economic losses, with less than 2 percent of the sumcovered by insurers, Aon Plcsaid.
|760 people dead
The “Mei-Yu” rainfall drenched the Yangtze River basin andnortheastern China, leaving more than 760 people dead or missingand damaging or destroying more than 800,000 homes and otherstructures, the London-based insurance broker said Thursday in areport. Most of the claims made to insurers were for agriculture,Aon said.
“The intensity and scope of what transpired from the associatedfloods were at a magnitude not seen in nearly two decades,” AdamPodlaha, global head of Aon’s Impact Forecasting, said in thecompany’s monthly statement on global catastrophes.
|Worst flooding since 1998
Storms and flash flooding in the U.S. resulted in at least $1.5billion of losses, two-thirds of which were insured, Aon said.Super Typhoon Nepartak, which hit Taiwan, China and thePhilippines, also caused $1.5 billion of losses or more.
Related: Flooding in China's Hebei kills 114, causes $2.5billion losses
|Copyright 2018 Bloomberg. All rightsreserved. This material may not be published, broadcast, rewritten,or redistributed.
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