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Tianjin Explosion Will Strain Chinese Insurers

Insurance claims from devastating explosions at the Chinese port of Tianjin last week could exceed initial estimates and strain the finances of regional insurers, credit rating agency Fitch said on Tuesday. Credit Suisse analysts estimated total insurance losses could amount to $1 to 1.5 billion, basing their estimates on Chinese media reports, but Fitch said the bill could go higher. Local Chinese insurers are set to bear the brunt of the costs and it is not clear how much of their...

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