Q1 2025 Natural Catastrophes Drive Record-High Economic and Insured Losses
Global insured losses from natural disaster events in Q1 2025 were preliminarily estimated to reach at least $53 bn, the highest Q1 insured losses since Q1 2011 ($81 bn)
Natural Catastrophe
What is the meaning of natural catastrophe? A natural disaster is characterized by the abnormal intensity of a natural agent when the usual measures to be taken to prevent this damage were not able to prevent their emergence or were not able to be taken.
Examples of natural hazards include: avalanche, coastal flooding, cold wave, drought, earthquake, hail, heat wave, hurricane (tropical cyclone), ice storm, landslide, lightning, riverine flooding, strong wind, tornado, typhoon, tsunami, volcanic activity, wildfire, winter weather.
Disasters are classified into natural disasters, man-made disasters, and hybrid disasters.
In this section, we have collected the most current articles and reviews on the topic of the Natural Catastrophes.
Natural Catastrophe Exposure Continues to Pressure P&C Insurance Results
Wider natural catastrophe exposure continues to pressure financial results across the property and casualty (P&C) insurance industry
P&C Insurance Faces Rising Catastrophe & Legal Risks in 2025
Fitch Ratings projects that the property and casualty (P&C) insurance sector will continue to face difficulties in 2025 due to volatile natural catastrophe risks
Insurance-Linked Securities Market in 2025 Hits New Record as Investor Interest Grows
The insurance-linked securities (ILS) market hit $107 bn in capacity by the end of 2024, driven by strong investor returns and increased catastrophe bond issuance
WTW’s Natural Catastrophe Review: 2024 Key Data Insights and Trends
WTW has analyzed natural disasters, key lessons, and emerging trends. The assessment will focus on physical and vulnerability NatCat factors
Insured Catastrophe Losses in Canada Surge to C$8.5 bn, Tripling in 2024
Insured catastrophe losses in Canada reached a record C$8.5 bn in 2024, nearly tripling the prior year’s total and standing 12 times higher than the annual average
Global Natural Catastrophe Overview: Economic & Insured Losses for 2024 FY
In 2024, global natural perils resulted in total direct economic costs of $417 bn. Of this, $154 bn was covered by private insurers and public insurance entities
Hurricanes, Severe Thunderstorms and Floods Drive $100 bn Insured Losses
In the US, two major hurricanes and frequent severe thunderstorms accounted for at least two-thirds of the year’s global insured losses, which currently exceed $135 bn
European System for Natural Catastrophe Risk Management & Re/Insurance
Economic losses from natural catastrophes in the EU are rising due to increased economic exposure and the growing severity of climate-related disasters
Comparing Europe’s Approaches to Natural Catastrophe Insurance & Gov-Backed Schemes
Government-backed catastrophe insurance schemes play a vital role in managing the financial impact of natural disasters across Europe
Southern Germany Floods Caused up to $2 bn Insurance Loss from 2024
PERILS has released its third insurance industry loss estimate for the floods that hit southern Germany from May 31 to June 6, 2024
Catastrophic Losses & Rising Global Flood Insurance Risks: $135 bn in 2024
2024 is on track to become the hottest year recorded. A warming climate has intensified natural catastrophes, especially in Europe, which faced severe flooding
Top Risk in Insurance: Cyber, Climate Change & Business Interruptions Dominate 2024
Cyber incidents, changes in climate, and business interruption are the chief risk concerns among key marketplace segments in the insurance industry
Increasing Consumer Awareness Will Drive Private Flood Insurance Growth
Inland areas are increasingly vulnerable to flooding from both tropical storms and severe convective storms, yet the number of homeowners who purchase flood insurance
Q3 2024 Global Catastrophe Report: Top 5 Costliest Economic & Insured Loss Events
Q3 2024 saw a number of significant disaster events, which drove total economic losses from natural catastrophes above at least $258 bn
Hurricane Milton Economic and Insurance Loss Forecast: Impact on Re/Insurers
Economic and insured losses from Hurricane Milton remain uncertain, Milton is the second major storm to hit the U.S. within two weeks, following Hurricane Helene
Rising Demand for Property Re/Insurance Amid Increasing Risks & Costs
Higher property values, urbanization, and increased repair costs are likely to drive demand for property re/insurance, particularly in regions facing heightened natural catastrophe
Global Natural Disaster Losses in H1 2024 Reached $120 bn
Global natural disaster losses in the first half of 2024 reached $120 bn, down from 2023, which saw $140 bn in losses due to a severe earthquake in Turkey and Syria
Major Natural Disasters in H1 2024: Insights for Insurance Industry
Natural disasters amplified by climate change continue to take a bitter toll on the global economy, caused $350 bn in economic losses, with insurance covering just over $100 bn
H1 2024 Global Natural Catastrophe Statistics: Economic & Insurance Losses
1H 2024 saw multiple notable natural catastrophe events, which drove total year-to-date economic losses above at least $117 bn
Insurance Industry Faces Challenges as Atlantic Hurricane Season Begins
The 2024 Atlantic hurricane season officially began and has already been active. Business owners found that 91% identified specific weather or natural hazards as risk
2024 Global Natural Catastrophes. Top 10 Costliest Insured Events
The total economic loss from global natural catastrophes for H1 2024 was estimated at $128 bn, insured losses totalled at $61 bn
Global Natural Catastrophe Report: Q1 2024 Insurance Insights
The global financial cost of natural catastrophes starting in 2024 was manageable for federal governments and the insurance industry
Insured Losses from Noto Peninsula Earthquake in Japan Forcasts
Insured losses from the 7.6 magnitude earthquake that struck the Ishikawa prefecture on the Noto Peninsula, Japan, on 1 January 2024 are likely to be small
Largest Natural Disasters Review: Thunderstorms & Earthquakes Cost
The past year was once again characterised by extremely high insured losses from natural disasters, despite the fact that there were no extreme individual losses
California’s Insurance Market: The Case for Risk-Based Pricing and Data-Driven Mitigatio. California’s insurance availability/affordability challenges
Life reinsurers based in Bermuda have recorded increased activity as annuity sales rise in the U.S. and recent regulatory changes
As electric vehicles (EVs) gain popularity, the insurance industry is also adapting to meet the unique requirements of eco-conscious drivers
Lightning causes significant fire risk to small and medium-sized enterprises (SMEs), resulting in annual damages of several billion dollars