Global insured losses from natural catastrophes reached $80 billion in the first half of 2025, preliminary estimates from Swiss Re Institute showed on Wednesday, driven by wildfires in California and severe thunderstorms in the United States.
The estimate nearly doubles the 10-year average and underscores how the insurance industry has faced a steady rise in weather-related losses in recent years, prompting tighter underwriting, higher premiums and renewed scrutiny of risk models.
Swiss Re Institute said total insured losses for the year could exceed the $150 billion projection, with natural catastrophe activity typically higher in the