"Four of the top 20 costliest weather disasters have occurred in the last year."
"The U.S. suffered 15 billion-dollar weather disasters during the first half of 2025, said insurance broker Gallagher Re in its latest quarterly report issued July 16. The average number of January-June inflation-adjusted billion-dollar disasters over the previous 10 years in the U.S. was 15; the record was 23, set in 2024. The Gallagher Re quarterly reports help fill a void left by the elimination of NOAA’s program to track billion-dollar weather disasters, which was terminated this year.
Globally, only four billion-dollar weather disasters occurred outside of the U.S. during the January-June period, giving a total of 19 billion-dollar weather disasters for the planet. The damage wrought by these was $134 billion, with an unusually high 60% of the total being insured damages. The U.S. was responsible for 92% of these insured damages, primarily because of the of the Los Angeles wildfires of January. Insured inflation-adjusted losses globally from weather-related disasters in 2025 were the highest on record for the first half of a year: $81 billion. The previous record was $75 billion, set in 2024. Gallagher Re’s historical database extends back to 1990.
During the past 10 years, the average annual insured loss has broken down by quarter as follows: Q1 (15%), Q2 (25%), Q3 (44%), Q4 (16%). There is typically higher loss potential in Q3, the peak period for Northern Hemisphere hurricanes and typhoons."
Jeff Masters reports for Yale Climate Connections July 16, 2025.
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