Hong Kong raised its highest storm signal as Super Typhoon Ragasa swept close, flooding districts and halting transport, with insurers bracing for Mangkhut-scale losses.
The Australian Reinsurance Pool Corporation noted that the extension of SME discounts aims to incentivise risk mitigation efforts, aligning with its 2025-2029 strategic priorities.
The move marks the reinsurer's latest push into Asia Pacific markets as it seeks to tap into India's growing demand for advanced reinsurance solutions.
Heavy monsoon rains since June have triggered catastrophic flooding and landslides across India and Pakistan, leaving more than 1,000 dead and hundreds of thousands displaced.
The approaching storm has already forced evacuations across northern Philippines and could trigger Hong Kong's longest airport closure in recent history.
