Sompo Japan expects Faxai-related payouts to exceed $1 billion September 19, 2019

Source: Business Insurance

September 19, 2019 Sompo Japan Nipponkoa Insurance Inc. expects to pay out more than 110 billion Japanese yen ($1 billion) in claims for typhoon Faxai, The Japan Times reports. The typhoon made landfall in Japan’s Chiba prefecture on Sep. 9 and caused widespread damage.