Overview

• Global economic losses from natural catastrophes reached $135 billion in the first half of 2025, up from $123 billion a year earlier, Swiss Re reports.
• Insured losses surged to $80 billion, driven by $40 billion in Los Angeles wildfire claims and $31 billion from severe U.S. storms.
• Swiss Re attributes rising wildfire costs to climate change factors including higher temperatures, more frequent droughts and shifting rainfall patterns.
• Homeowners in France may face reduced or voided payouts if they fail to follow prevention plans that require clearing vegetation around properties.
• Swiss Re cautions that if loss trends persist and with the Atlantic hurricane season ahead, insured claims could exceed its $150 billion forecast for 2025.