Initial insurance losses from Tianjin blasts seen at $1 billion - $1.5 billion

HONG KONG (Reuters) - Two explosions in the Chinese port of Tianjin that killed more than 100 people last week could generate total insurance losses of $1 billion to $1.5 billion (£640 million to £959 million), Credit Suisse analysts said, citing initial estimates based on Chinese media reports.

Tianjin, the world's third-largest port in terms of total cargo volume, was hit on Aug. 12 by blasts that damaged a large industrial area and sent shockwaves across several kilometres.