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2w ago

Swiss Re Puts 2025 Insured Catastrophe Losses at $107 Billion as U.S. Events Dominate

A rare year without U.S. hurricane landfalls kept totals below earlier forecasts.

A drone view shows cars driving along Pacific Coast Highway next to lots of destroyed houses months after wildfires in January devastated the Pacific Palisades neighborhood in Los Angeles, California, December 3, 2025. REUTERS/Daniel Cole
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The Los Angeles blazes in January constitute the largest-ever insured wildfire loss event by far, reaching an estimated $40 billion, said Swiss Re

Overview

  • Swiss Re’s preliminary tally pegs global economic losses at about $220 billion, a 33% drop from last year.
  • The Palisades Fire in Los Angeles became the costliest wildfire on record with an estimated $40 billion in insured losses.
  • Severe convective storms generated $50 billion in insured losses, the third‑costliest year for this peril after 2023 and 2024, extending a multi‑year rise.
  • The United States accounted for 83% of worldwide insured catastrophe losses, and Swiss Re notes insurers are retreating from high‑risk areas as calls grow for resilience investment.
  • The Atlantic produced 13 named storms and three Category 5 hurricanes, yet none struck the U.S.; Hurricane Melissa heavily damaged Jamaica and affected Haiti and Cuba with insured losses of about $2.5 billion.