Asia recorded its lowest first-half insured catastrophe losses since 2017, but more than US$6bn in flood-driven economic losses in China underscored the region's significant protection gap.
Insured losses from the event were estimated at US$300m, as global economic losses reached US$37bn, 43% below the 21st-century average and the lowest since 2015.
While global losses were below the 10-year average last year, APAC's persistent protection gap means only about US$9bn of its US$73bn losses were insured.
