108 billion USD in natural disaster payouts - Global insurance companies paid less last year
Global insured losses from natural disasters fell to $108 billion last year, Munich Re said in a report. That compares with an inflation-adjusted $147 billion in 2024, the German reinsurer said, as the Americas avoided hurricanes for the first time in 10 years.
Munich Re’s total estimate for last year significantly exceeds Swiss Re’s estimate of $107 billion, which it published in December. Damage from floods, fires and severe storms was the main contributor to insured losses, accounting for $98 billion. That exceeded an inflation-adjusted average over the past 10 years of $60 billion, Munich Re added.
The costliest insured disaster of 2025 was the fires in Los Angeles, Munich Re said, followed by several days of storms in central and southern US states in March.
The average global temperature between 2015 and 2024 was 1.24 to 1.28°C warmer than pre-industrial levels, making it the warmest decade ever recorded, the European Environment Agency said.
Total losses from natural disasters, including those not covered by insurance, were lower than the 10-year average at $224 billion in 2025 and down from $368 billion in 2024.
A 7.7-magnitude earthquake in Myanmar in March, where only a small portion was insured, was estimated to be the second-costliest catastrophe in terms of total losses in 2025, Munich Re said.
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