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Spare a thought for the Philippines

The catastrophe season seemed to be off to a fairly slow start but over the last few days things are no longer quiet on the eastern front.

Official economic losses to the Philippines capital Manila from Typhoon Ketsana which hammered the Philippines last weekend could be around $30m or 1.4bn pesos, with a further $17m from agriculture losses.

However, we in the reinsurance industry should always be careful not to forget the human cost. The death toll has more than doubled to 240 as the country clears up from the natural disaster.

Disease is another issue, with major worries about the spread of typhoid.

(Re)insurers with operations on the islands include AsianLife, Mapfre, QBE, Philippine American Life and General, Philippine Axa Life, Manulife Chinabank, Liberty, PNB, Travelers and until recently AIG.

So spare a thought for the Phillippines

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