Overview

• Swiss Re Institute data show global insured catastrophe losses of $80 billion in the first half of 2025, nearly double the 10-year average.
• The Los Angeles wildfires account for roughly half of these losses, with an estimated $40 billion in claims marking the highest cost for a single wildfire event.
• Economic losses from natural disasters climbed to $135 billion in H1 2025, driven by California blazes, severe U.S. thunderstorms and a Myanmar earthquake.
• Insurers have tightened underwriting and withdrawn from high-risk zones, raising concerns over coverage gaps for exposed communities.
• Forecasts call for near- to above-average hurricane activity with three to five major storms, underpinning projections that full-year insured losses could exceed $150 billion.