Overview

• Global natural disaster losses reached $131 billion in the first half of 2025, with $80 billion covered by insurance.
• U.S. weather events accounted for $93 billion in damages—more than 70% of global weather losses—and left $22 billion uninsured for homeowners and local governments.
• Record Southern California wildfires in January caused $53 billion in damage and drove a nearly $2 billion profit decline at Munich Re and Hannover Re.
• A magnitude-7.7 earthquake in Myanmar on March 28 led to 4,500 fatalities and $12 billion in losses, most of which went uninsured.
• Insurers warn that without stronger building codes, risk-based zoning and scaling up adaptation, premiums will climb and coverage will tighten.