Kathmandu. The insurance company is expected to face a $334 million (HK$2.6 billion) claim from a devastating fire at Hong Kong’s Tai Po on Wednesday.

At least 75 people have died in a fire that broke out at a building in Bahudale. Seven buildings have been destroyed. The online edition of the South China Morning Post newspaper published details of the estimated insurance loss, citing sources in the insurance company.

In addition, other media outlets have reported that the organization of the owners of Wang Phuc Court has insured the property. Risk cover for a two-year period ending December 31, 2026 includes building and common sector property insurance, public liability insurance, cash insurance, and group personal accident insurance.

In addition to the deaths, more than 70 people have been injured and more than 200 are missing in the fire in Hong Kong, the world’s most populous city.

The Hong Kong Insurers’ Association said in a statement after the incident: “Many victims have insurance coverage. “

Wang Phuc Court is a residential complex made up of eight different buildings. The complex was home to 4,600 residents in 2,000 residential units.