US EditionClimate Catastrophes Are Creating a ‘New Market Reality’ for Insurance Carriers | News Channel 3-12
UNITED STATES, JUL 18 – Severe storms and wildfires caused $84 billion in insured losses globally in early 2025, with U.S. wildfires accounting for nearly half, according to Gallagher Re.
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Climate catastrophes are creating a ‘new market reality’ for insurance carriers
Raging wildfires and severe storms contributed to record-high global insurance losses — totaling an estimated $84 billion — for the first six months of the year, according to a report from reinsurance broker Gallagher Re.
Insurance losses across the US are projected to top $100B this year
Insured losses for the first half of the year have reached $84 billion globally, CNBC reports, the highest first half total since 2011. That’s according to a recent Gallagher Re report, which states violent storms across the U.S. have driven more than $30 billion in losses thanks to damaging winds, lightning and hail. These severe convective storms account for 39% of the insured losses globally in the first half of 2025. Just shy of a dozen sto…
Devastating forest fires and severe storms contributed to global memory losses in the insurance sector — totaling approximately US$ 84 billion — in the first six months of the year, according to a report by the Gallagher Re insurance policy firm. This was the first half of 2011, when insurance losses totaled US$ 136 billion, according to the report. Climate-related events and weather conditions totaled at least US$ 81 billion in the first half o…
Insurers recorded $84 billion in losses worldwide in the first half of 2025, the highest value for this period since 2011, CNBC reported.
Gallagher Re estimates the worldwide insured disaster damage for the first half of 2025 to be $84 billion.
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