Global insured losses hit $80b in H1 2025

Myanmar’s quake led to ~$1.5b insured losses for Thailand.

Global insured losses from natural catastrophes reached $80b in the first half of 2025, according to preliminary estimates from Swiss Re Institute. 

The figure is nearly double the 10-year average and represents more than half of the $150b projected for the full year. 

With natural catastrophe activity typically intensifying in the second half, total losses could exceed expectations.

Wildfires accounted for the largest share of losses. The January wildfires in Los Angeles County alone resulted in insured losses of $40b, making it the most costly wildfire event ever recorded. 

Severe thunderstorms remained a major source of loss, generating $31b in insured claims in the first half of the year. 

Although lower than the $35b trend estimate and the record levels seen in 2023 and 2024, SCS events with hail and tornadoes in the US continued to pose significant risks. 

Swiss Re noted that urbanisation, asset inflation, and higher reconstruction costs are amplifying the impact of such storms.

In Asia, the March earthquake in Myanmar led to widespread destruction and human loss, with insured losses in Thailand alone estimated at $1.5b due to shockwaves extending across the region.

With the US severe storm season winding down, attention is now turning to the North Atlantic hurricane season. 

Forecasts point to near- to above-average activity, including three to five major hurricanes—potentially pushing full-year catastrophe losses beyond current projections.