Milli Re 2025 Annual Report

Global Reinsurance Market and Milli Re in 2025 the country in the last century. The shock was felt across Myanmar, Thailand, China, Bangladesh, India and the wider Southeast Asia region; causing more than 3,000 fatalities and leaving thousands of buildings completely destroyed or severely damaged. The total economic cost of the event is estimated at the level of USD 15 billion, of which only USD 2.3 billion is expected to be insured. The destructive floods triggered by monsoon rains, which began in June and particularly affected northern China, were another major event impacting Asia in 2025. Continuing for 59 days, the torrential rains marked the longest monsoon season that has been experienced in the country since 1961. Resulting in 70 fatalities and causing extensive property and infrastructure damage, the total economic cost of disaster is estimated at USD 23 billion; while only USD 600 million of this amount is expected to be insured. The catastrophic California wildfires, which started on January 7th and continued for several weeks, was undoubtedly the costliest natural disaster of 2025. Fueled by strong winds and dry weather conditions, the fires spread rapidly, ravaging approximately 14,000 hectares of land and damaging or completely destroying more than 16,000 structures. Given the concentration of high-value residential properties in the affected area, the total economic cost of the disaster is estimated at USD 65 billion. With total insured losses projected at USD 41 billion, the event was also recorded as the costliest wildfire in history for the global insurance and reinsurance industry. Another devastating natural catastrophe in 2025 was the 7.7 magnitude earthquake that struck the Sagaing and Mandalay regions of Myanmar on March 28th. Occurring at a depth of approximately 10 kilometres, the earthquake was recorded as the strongest to affect Tropical Cyclone Alfred, which made landfall on March 8th as a Category 1 storm near Brisbane, one of Australia’s most populous cities, brough heavy rainfall and caused flooding with widespread infrastructure damage, particularly across Queensland and northern New South Wales. Affecting millions of people, the disaster led to flooding in low-lying residential areas and river basins with significant damage to property, and prolonged power outages for tens of thousands of households. Alfred is recorded as the first tropical system to affect the region since Cyclone Zoe of 1974, causing an estimated total economic loss of USD 1.4 billion. Of this amount, around USD 1 billion is expected to be indemnified by the insurance industry Despite insured losses from natural catastrophes exceeding the USD 100 billion threshold once again in 2025, the reinsurers continued to post strong underwriting results, supported by sustained market The total of traditional and alternative reinsurance capital rose from 2024 year-end figure of USD 715 billion to USD 760 billion by September 2025. 68 MİLLİ RE 2025 Annual Report