Natural disasters "burden" the global economy - Caused $135 billion in damage in the first half of 2025
Natural disasters caused global economic damage worth $135 billion in the first half of 2025.
Swiss Re, the company that insures insurance firms themselves, said first-half losses had increased compared to $123 billion in the same period in 2024. The Zurich-based giant estimated that of this year's losses, $80 billion was insured.
The Los Angeles fires in January accounted for the largest insured fire loss event on record, totaling about $40 billion. According to Swiss Re, the “extraordinary severity” of the fires was due to prolonged winds, lack of rainfall and the “high density of high-value residential properties” in those areas.
The March earthquake in Myanmar ranked among the top natural disasters in the first six months of the year, with tremors felt in Thailand, India and China. In Thailand alone, insured damages reached $1.5 billion.
The second half of the year is typically more costly for insurers due to the North Atlantic hurricane season.
"The strongest measure to increase the resilience and safety of communities is to double down on mitigation and adaptation. Everyone must help reduce damages before they occur," said Swiss Re economists.
"While mitigation and adaptation tools come at a cost, our research shows that protection measures, such as dams, barriers and flood gates, are up to 10 times more effective than rebuilding from scratch," they explained.
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