Natural disasters caused an estimated $65 billion in losses last year for Asia-Pacific [CNBC]
Aon plc Class A Ordinary Shares (Ireland) (AON)
Last aon plc class a ordinary shares (ireland) earnings: 5/1 06:00 am
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Source: CNBC
Of the total losses, only 9%, or $6 billion, were covered by insurance, falling short of the 21st-century average of $15 billion. The report found that floods remained the most costly threat in Asia-Pacific for the fourth consecutive year, representing over 64% of total losses in 2023. Annual flood losses have exceeded $30 billion since 2010. China suffered the heaviest losses in Asia-Pacific with $32.2 billion in flood-related losses, or over half of total losses in the region, the report said. Hong Kong, South Korea, India and Pakistan also experienced significant flooding and record rainfall events throughout the year. The South Asia floods in particular, resulted in nearly 2,900 deaths. Aon noted that flood-related losses have totaled more than $30 billion every year since 2010. The report also highlighted rising temperatures and unforeseen heatwaves, particularly drought conditions in China and India. Aon noted that while heatwaves are among the “ deadliest perils , thes
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