Asia-Pacific Region Faced Lower Losses from Natural Disasters in 1H, Munich Re Data Shows
Dow Jones07-30
0600 GMT - In the Asia-Pacific region, losses stemming from natural disasters remained significantly lower than in previous years, Munich Re data for the first half of the year shows. Total losses amounted to $8.7 billion of which slightly more than $1 billion was insured, data from the German reinsurer shows. For the second half of the year, El Nino poses significant risks to large parts of the region, the data shows. For example, Australia and parts of Southeast Asia face increased risk of heat, drought and wildfires, Munich Re says. El Nino is a climate phenomenon and influences extreme weather events in many regions of the world.
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