Category 5 storm hits Philippines

Typhoon Megi, which made landfall in the Philippines on Monday as a category 5 'super-typhoon' will cause economic damage of between $300m and $600m, estimates catastrophe modelling firm Eqecat. The company did not give an estimate for insured losses.

According to Eqecat, Typhoon Megi made landfall over the Cagayan and Isabela provinces in northern Luzon Island. It weakened to a category 2 typhoon after landfall. Megio is the strongest cyclone so far in 2010, Eqecat said.

Megi is expected to re-intensify to a category 3 storm as it traverses the South China Sea before making its second landfall along the south-east China coast between Hainan Island and Hong Kong.

The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.

Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.

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