Reinsurance News
typhoon
Super Typhoon Ragasa insured losses may exceed tens of millions USD: Aon
26th September 2025
In the last week of September, Southeast Asia and China were struck by Super Typhoon Ragasa, with economic losses expected to reach hundreds of millions of USD and insured losses potentially exceeding tens of millions, according to Aon’s Weekly Cat Report. Ragasa formed as a tropical low-pressure system in the Philippine ... Read the full article
Pacific typhoon migration poses increasing risks, says Chaucer
28th February 2025
The area where Pacific typhoons reach their peak intensity is gradually shifting northward, increasing the risk to heavily populated regions in the Northwest Pacific, according to a new report from Chaucer. Academic studies show that the area of maximum intensity is moving roughly 0.5 degrees of latitude northward per decade, equivalent ... Read the full article
SEADRIF makes $3m payout to support provinces in Lao PDR following Typhoon Yagi
1st October 2024
SEADRIF Insurance Company has made a record total payout of US$3 million to support the provinces in Lao PDR impacted by the passage of Typhoon Yagi, which has been called Asia’s most powerful storm this year. The extended flood impact triggered a second payout of $2.25 million on September 30, Read the full article
SEADRIF Insurance makes US$750k payout to support Lao PDR’s recovery efforts following Typhoon Yagi
24th September 2024
SEADRIF Insurance Company has made a payout of US$750,000 to support the eight provinces in Lao PDR devastated by the passage of Typhoon Yagi, which has been called Asia’s most powerful storm this year. According to the announcement, the funds will aid Lao PDR’s recovery efforts and help the government reach ... Read the full article
Reinsurers likely to absorb majority of Typhoon Yagi losses in Vietnam: AM Best
13th September 2024
According to AM Best, domestic and international reinsurers will bear the bulk of losses caused by Typhoon Yagi on Vietnam insurance companies, which can further result in reinsurers’ appetite for regional catastrophe risks being tested at the upcoming reinsurance renewals. Typhoon Yagi, which has been called Asia’s most powerful storm this ... Read the full article
Wind energy producers and insurers need to monitor changing climate: Swiss Re
4th July 2024
According to a report from Swiss Re, a global reinsurance company, climate change is expected to alter global wind patterns, posing significant challenges for wind energy producers and insurers alike. Shilpa Gahlot, Insurance Research Specialist, Swiss Re, states: "The intensity of storms is anticipated to increase, with stronger gusts and more ... Read the full article
AM Best expects Asian Re’s underwriting and operating performance to improve
14th June 2024
AM Best, a global credit rating agency for the insurance sector, has reaffirmed Asian Reinsurance Corporation (Asian Re), a regional non-life reinsurer, with a Financial Strength Rating of B+ (Good) and a Long-Term Issuer Credit Rating of “bbb-” (Good), both with a positive outlook. AM Best expects that Asian Re’s execution ... Read the full article
PICC pays 60% of compensation claims from Typhoon Doksuri
31st August 2023
The People’s Insurance Company of China (PICC), one of largest insurance companies operating in China, has paid out 60% of the compensation claims it received pertaining to the damage caused by super Typhoon Doksuri, which caused record rainfall in northern China earlier this month. Doksuri has gone on to become the ... Read the full article
Below-average typhoon activity forecast for Northwest Pacific
12th May 2022
Analysts at Tropical Storm Risks (TSR), an insurance and reinsurance industry supported team of forecasters, are predicting that this year’s Northwest Pacific typhoon season will be about 20% less active than the 30-year norm. In total, TSR forecasts that the Northwest Pacific region will see 23 tropical storms, 13 typhoons and ... Read the full article
China Re sponsors first Hong Kong cat bond, Greater Bay Re
1st October 2021
State-owned reinsurer China Re has secured $30 million of typhoon cover as the sponsor of the first catastrophe bond to be issued out of Hong Kong. According to reports from our ILS-focused sister publication, Artemis, the now-completed Greater Bay Re Ltd. (Series 2021-1) cat bond was privately marketed to a ... Read the full article
Typhoon Haishen threatens Korean Peninsula days after Maysak landfall
4th September 2020
As Typhoon Haishen continues to track toward the Korean Peninsula, forecast to reach Category 4 status as it approaches southern Japan's Kyushu island, there's potential for a relatively significant insurance and reinsurance industry loss. For a peninsula that typically experiences just one landfalling typhoon a year, Haishen threatens to be the ... Read the full article
Bank of Montreal (BMO) hit by typhoons after decision to exit reinsurance
25th February 2020
The Bank of Montreal (BMO) has revealed that it was hit by CAD 25 million (USD 19 million) of reinsurance claims from the Japanese typhoons in 2019, which occurred just week’s after its decision to wind down its reinsurance business. BMO underwrites reinsurance, including catastrophe risk, through its BMO Reinsurance Limited ... Read the full article
Typhoons to boost Japanese reinsurance rates, but not market-wide: Barclays
17th October 2019
The substantial industry losses stemming from Japanese typhoons in 2019 will provide a boost to affected regional lines, but are unlikely to trigger a sharp recovery in wider property and casualty (P&C) reinsurance prices, according to analysts at Barclays. With insured losses from Typhoons Faxai and Hagibis now pegged at between ... Read the full article
Munich Re puts 2018 insured typhoon losses at $9.5bn, Jebi at $6bn
7th December 2018
Munich Re has estimated that insured losses from typhoons in the Northwest Pacific are likely to total $9.5 billion for 2018, of which $6 billion is attributable to Typhoon Jebi, which made landfall in Japan on September 4. The loss estimate for Jebi is substantially higher than figures provided by the ... Read the full article
Insured losses from Japan’s Typhoon Jebi may reach $4.5 billion: AIR Worldwide
10th September 2018
Typhoon Jebi, which made landfall in Japan on September 4, could cause industry insured losses of between JPY 257 billion (US $2.3 billion) and JPY 502 billion ($4.5 billion), according to estimates from AIR Worldwide, the catastrophe risk modelling arm of Verisk Analytics. As the equivalent of a Category 3 hurricane, ... Read the full article
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