Magazine date:
Jul 2022 
According to a Munich Re [4] report, the cost of economic damages caused by natural disasters [5] in the Asia Pacific region reached 22 billion USD in the first half of 2022. The amount of insured losses stands at 8 billion USD.
The Australian floods which occurred in February 2022 are considered as the costliest disaster in the region with insured losses amounting to 3.7 billion USD. This catastrophe was followed by the earthquake of 16 March 2022 in Japan which cost the insurance industry 2.8 billion USD.
On a global scale, natural disasters have generated, as at 30 June 2022, economic damages worth 65 billion USD, 52.6% of which, that is 34 billion USD, were borne by insurers.