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Japanese insurers to pay out a record 1tn yen in FY2018

Claims surge as country suffers widespread damage from a series of disasters

Major disasters this year included Typhoon Jebi, which forced the closure of Kansai International Airport, shown here.    © Kyodo

TOKYO -- With Japan having suffered extensive damage from a number of natural disasters this year, the country's three top damage insurers are expected to pay out a record 1 trillion yen ($8.7 billion) in combined insurance claims in fiscal 2018 through March 2019.

This fiscal year's insurance payouts exceed those of fiscal 2017, which also saw a succession of typhoons hit the country. The figure is the largest in terms of payments for wind- and water-related disasters. Major disasters this year included heavy rains and floods in western Japan and several large typhoons.

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