Shanghai's property insurance sector had received a total of 58,700 claims totalling CNY1.225bn ($175m) as of 15:00 on 24 September 2024 for damages arising from typhoons Bebinca and Pulasan, according to the Shanghai Insurance Association.
These were very early figures. Of the claims totalling CNY1.225bn, a portion amounting to CNY115m had been settled by 25 September.
Pulasan made landfall late on September 19 just south of Shanghai in eastern China – very close to where Bebinca made landfall on 16 September. Bebinca was the most powerful tropical cyclone to directly hit Shanghai in more than seven decades. Both Bebinca and Pulasan brought historic rainfall to the metropolitan.
Separately, at a media briefing on 27 September, Mr Yin Jiangao, director of the Property Insurance Supervision Department of the National Financial Regulatory Administration, announced that as of 26 September, the Chinese insurance industry had received 98,000 claims and paid out CNY2.4bn in compensation for losses caused by Typhoon Yagi. The typhoon landed in Hainan in southern China on 6 September, bringing violent gales and heavy rain
The typhoons caused considerable damage. Many places suffered serious waterlogging, houses were damaged, vehicles were smashed, many crops were destroyed, commercial activities and port operations were suspended, and many enterprises and families suffered property losses.