Super Typhoon Ragasa insured losses may exceed tens of millions USD: Aon

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 Sea on September 16 and gradually strengthened. By September 19, it was upgraded to a tropical depression and named by the Japan Meteorological Agency. Over the following days, the storm underwent rapid intensification and two eyewall replacement cycles as it tracked west-northwest through the Luzon Strait into the South China Sea.

At peak strength, Ragasa recorded a 905 mb minimum central pressure and maximum sustained winds of 270 kph (170 mph), equivalent to a Category 5 storm on the Saffir-Simpson Scale.

On September 22, Ragasa made landfall at peak intensity on Panuitan Island in the Philippines, bringing destructive winds and heavy rainfall across the island and parts of northern Luzon.

Power outages affected 750,000 households, while damage to energy infrastructure has so far reached $40,000. Four fatalities were reported in central Luzon, where the NDRRMC estimated 130 houses were damaged. Agricultural losses totalled $260,000 across northern and central Luzon, particularly in Cagayan province. Infrastructure damage included at least 34 bridges and three major roads. Aviation and maritime transport were also severely disrupted, with over 40 flights cancelled and several vessels capsized or run aground. In La Union province, Baguio City, Benguet, and Ilocos Sur, further damage was reported, including a tornado that damaged around 50 houses and a collapsed flood control structure in Nueva Vizcaya.

Rain bands north of Ragasa’s centre also brought intense rains and flash flooding to eastern Taiwan. More than 11,300 households across Taiwan experienced power outages. A barrier lake breach in Hualien County triggered extensive flooding in Guangfu Township, submerging multiple structures. Around 4,000 residents lost access to water supply, and more than 160 flights were cancelled.

The storm began to weaken as it passed just south of the Hong Kong metro area before making a second landfall on China’s Hailing Island. Despite no direct landfall in Hong Kong, the city and adjacent areas of Guangdong Province experienced heavy rain and strong winds.

China evacuated nearly two million people ahead of the storm. At its peak, at least 56,000 households lost power, mainly in Jiangmen and Yangjiang. In Hong Kong, storm surge caused notable flooding, with 85 incidents reported, along with 1,200 fallen trees and one landslide. Hundreds of flights were cancelled, though no casualties were reported in Hong Kong, and only minor damage occurred in Macau.

Ragasa continued west into northern Vietnam before dissipating on September 26.

Aon stated, “Economic losses are expected to reach hundreds of million USD. Insured losses also have the potential to exceed tens of millions of USD. In terms of support, Chinese authorities have allocated $21 million for disaster relief, while local offices in the Philippines have provided $190,000 to assist affected communities.”