In a recent roundtable discussion with The Insurer, three leaders from Howden Re: Global Reinsurance Broker & Advisor examined the challenges and progress in improving resilience to natural catastrophes across the Asia-Pacific region.
Andy Souter, Head of Asia Pacific, highlighted differences in preparedness across the region. “Preparedness determines vulnerability. Japan’s long-standing investments in quake-resistant construction and storm defences make it one of the most resilient markets globally. Elsewhere, however, population growth, rapid urbanisation and socio-economic pressures leave communities exposed,” Souter said.
Emily Lo, Head of Analytics for Asia, pointed out that systematic approaches are more effective than selective ones. “Preparedness works best when it’s systematic, not selective. Enforcing resilient construction standards, embedding automatic response triggers for surge or rainfall thresholds and ensuring that insurers and governments hold capital for 1-in-200-year events all make a measurable difference,” she said.
Myrto Papaspiliou, Head of International Catastrophe Model Research, emphasized the value of learning from past disasters. “Every catastrophe is a lesson,” she said. “From Kobe and Christchurch to Ragasa and Morakot, the regions that learn, adapt and institutionalise those lessons are the ones that recover stronger.”
The discussion focused on how ongoing investment in infrastructure, financial innovation such as improved insurance coverage for rare but severe events, and cooperation among governments and private sector players can help close protection gaps across APAC countries.