Natural disasters in Asia Pacific: cost of insured losses in 2021

According to Munich Re, the cost of natural catastrophes that occurred in Asia Pacific in 2021 amounts to 50 billion USD. The insured losses stand at 9 billion USD, that is, 7.5% of the global cost for the global insurance market.

The severe floods in Henan province in China are considered as the most costly loss in the region. This climatic event has generated economic losses of around 16.5 billion USD, of which only 10% are insured.

This disaster was followed by the earthquake in Japan on 13 February 2021 which resulted in 7.7 billion USD of economic damage, including 2.3 billion USD borne by insurers.