Heavy rainfall has continued in many parts of southern China recently, causing casualties and property losses due to floods and geological disasters.China's National Financial Regulatory Administration (NFRA) noted on 23 June that as of noon of that day, the relevant regional insurance institutions received a total of 18,400 reported cases. The amount of reported losses reached RMB619 million, involving car, enterprise property, agricultural, accident, rural housing and other types of insurance.Related NewsUBS Raises HSI Target to 22,100, Prefers 7 HK StocksNFRA also recently issued a notice requesting the insurance industry to act swiftly in response to flood and drought disasters and insurance claims service work, and to fully utilise the industry's function of pre-disaster prevention, in-disaster relief and post-disaster claims.It is understood that the relevant insurance institutions have invested nearly 10,000 person-times of manpower to the disaster site, sent more than 5,000 vehicles to investigate and rescue, and have paid and pre-paid RMB105 million. Claims work is progressing steadily and in an orderly manner.Related NewsCLSA: PING AN Becomes Major Beneficiary of CN Policies; Long-term Top Picks Remain AIA, PICC P&C