9/19/2018 6:01:00 AM

Source: Business Insurance

Insurers have received claims worth 680 million Chinese yuan ($99 million) related to typhoon Mangkhut so far from Guangdong province in China, South China Morning Post reported citing media sources. The Guangdong province’s government said that the typhoon is likely to cause at least CNY 4.2 billion in economic losses in the region. Jianglong Shipbuilding Co. Ltd. said that the storm caused about CNY 5 million worth of damage to its production facilities, warehouses and ships. The typhoon struck southern China on Sept. 16.