QBE Re has appointed Mr Tanaka Soichiro as Head of Southeast Asia. In this newly created role, he will lead underwriting strategy for Southeast Asia, overseeing portfolio management and growth opportunities as the reinsurer continues to expand in Asia.
Globally, the direct economic cost of Nat CAT in 2025 was estimated at $296bn, below the decadal average of $394bn (2015 to 2024) and most recent five-year average of $409bn. In APAC, the estimated economic losses were $87bn (Asia: $83bn, Oceania: $4bn), according to Guy Carpenter's "Natural Catastrophe and Climate Report", released in January 2026.
Peak perils in 2025 accounted for only a small share of overall losses, according to the latest report by Howden Re. Outside of the US, losses were driven by a series of notable, but localised events across Asia and Europe, producing moderate insured losses amid significant human and economic impacts.
FM has appointed Mr Calvin Kuan as client service manager for Southeast Asia.
The 7.7-magnitude earthquake that struck Myanmar in March 2025 has caused estimated economic losses of $12bn, according to Munich Re NatCatSERVICE's report titled "Natural disasters in the first half of 2025", released in July.
Prudential has appointed Mr Naveen Tahilyani as regional CEO for India, the Philippines, Cambodia, Laos, Myanmar, as well as Africa, with responsibility for health, effective 29 July.
The APAC region, particularly in South Korea and Japan, experienced significant wildfires, floods and earthquakes in the first quarter of 2025 leading to billions of dollars in economic and insured losses, according to an Aon report.
Aon published its Q1 Global Catastrophe Recap - April 2025 yesterday, which analyzed the natural disaster events that occurred worldwide during the first quarter of the year.
Some insurers in Myanmar have temporarily stopped selling new disaster insurance policies. This is a consequence of the powerful earthquake that hit the country on 28 March this year.
Thai insurers could be looking at payouts totalling tens of millions of US dollars following a major earthquake in Myanmar, which caused significant damage in Thailand, including the collapse of a 34-storey building under construction in Bangkok.