Lekima the second most costly China typhoon as estimate hits $7.4bn

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Typhoon Lekima is without doubt set to become one of the most expensive natural disaster events to strike China in recent years, with the latest economic damage estimate of approximately US $7.4 billion placing the storm as the second most expensive typhoon to hit China ever.

Typhoon Lekima came ashore in Zhejiang province China as a Category 2 equivalent typhoon, having weakened after passing the Japanese Ryukyu islands.

Update: An early estimate of insured losses from the storm has been pegged at US $855m+ by AIR Worldwide.

Update: Economic loss figures from official sources increased to CNY 53.72 billion, US $7.63 billion on August 15th.

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