US insurers reported a record 15 billion-dollar weather disasters in the first half of 2025, with inflation-adjusted losses reaching $134 billion globally. The Los Angeles wildfires, which burned in January, were the most expensive single disaster, causing an estimated $65 billion in damages.
The US accounted for 92% of these insured damages, primarily due to the devastating Los Angeles wildfires. Globally, only four billion-dollar weather disasters occurred outside of the US during this period, with a total damage of $134 billion. Severe thunderstorms and droughts also contributed to the record-breaking losses.
Notably, an early-summer heat wave in Europe caused over 2,305 deaths, making it the deadliest heatwave on record for that continent. This heat wave, which occurred from June 23-July 2, was attributed to human-caused climate change and is being blamed for a tripling of the usual mortality toll.
These extreme weather events have pushed global insured losses to the highest level in the first half of a year, surpassing the previous record of $75 billion set in 2024. The Gallagher Re quarterly report provides valuable insights into the growing impact of climate-related disasters on economies worldwide.
Source: https://yaleclimateconnections.org/2025/07/u-s-socked-with-15-billion-dollar-weather-disasters-during-the-1st-half-of-2025