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International

Insured flood-related losses in Asia Pacific hit $6 billion

January 25, 2024 Reprints

Insured flood-related losses in the Asia Pacific region reached approximately $6 billion in 2023, with nearly half of these losses related to widespread flooding in Auckland and Cyclone Gabrielle that hit North Island of New Zealand in February 2023, Asia Insurance Review reported. Total flood-related economic losses in Asia Pacific were at $65 billion with a substantial protection gap of 91%. China accounted for around 50% of these losses.

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Insured flood-related losses in Asia Pacific hit $6 billion

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