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Natural disasters

Typhoons and floods wreak havoc on Japan's big three insurers

Emergency funds shrink by half in two stormy years as payouts surge

TOKYO -- The destructive typhoons and flooding endured by Japan in recent years have driven damage claims to record-high levels, draining the emergency reserves held by top insurers.

Catastrophe reserves held by Japan's three leading property insurers -- Tokio Marine Holdings, MS&AD Insurance Group Holdings and Sompo Holdings -- are expected to total about 385 billion yen ($3.54 billion) at the end of March 2020, down by half from two years earlier and from 538.3 billion yen this past March.

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