"The 33 percent drop was recorded despite the wildfires that ravaged wealthy neighbourhoods in Los Angeles in January, burning more than 9,308 hectares (23,000 acres), destroying homes and businesses and forcing thousands to flee. Swiss Re put the insured losses from the inferno at $40bn, labelling it the globe's costliest wildfire to date. That single event was a major contributor to the $107bn in insured losses from natural catastrophes in 2025."
"Natural disasters caused $220bn in global economic losses in 2025, according to projections by reinsurer Swiss Re. The company, which insures insurance companies, issued its preliminary estimate for 2025 on Tuesday. Despite the staggering cost of natural catastrophes, ranging from hurricanes to wildfires, the level of the losses was actually an improvement on the previous year, when the world was hit for $327bn."
"Still, insured losses from storms reached $50bn in 2025, with 13 named tropical storms registered during the North Atlantic tropical cyclone season, including three Category 5 hurricanes: Erin, Humberto and Melissa. Hurricane Melissa, which left a trail of destruction across Jamaica, Haiti and Cuba, was the costliest storm of the year, with insured losses estimated at $2.5bn."
Reinsurer Swiss Re projects global economic losses from natural disasters at $220bn in 2025, down from $327bn the previous year. Insured losses from natural catastrophes totalled $107bn, with the Los Angeles wildfires accounting for $40bn and becoming the costliest wildfire recorded. Total insured losses fell 24 percent from $141bn, helped by a milder North Atlantic hurricane season in which no hurricanes made US landfall for the first time in a decade. Storm-related insured losses still reached $50bn, including 13 named North Atlantic storms and three Category 5 hurricanes, with Hurricane Melissa causing heavy damage and $2.5bn in insured losses.
Read at www.aljazeera.com
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