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.
The heaviest economic impact was recorded in the Sitaro Islands, North Sulawesi, where flash floods destroyed dozens of homes and damaged infrastructure.
The funding will be split between immediate humanitarian assistance and longer-term recovery and resilience initiatives across Indonesia, Thailand, and Sri Lanka.
