Insured cat losses up sharply in first half: Report

Global insured catastrophe losses in first-half 2025 jumped to at least $100 billion, up from $71 billion in the first half of 2024, Aon PLC said Tuesday.

This year’s first-half insured losses were the second-highest total on record, after the $140 billion in first half 2011, and well above the 21st century first-half average of $41 billion, the broker said in its first-half Global Catastrophe Recap.

More than 90% of the global insured losses occurred in the U.S., primarily driven by wildfires and severe convective storms.

At least 19 events, 18 of which occurred in the U.S., surpassed $1 billion in insured losses in the first half, Aon said. The European severe convective storm outbreak in late June was the only event outside the U.S. exceeding that threshold.

In the past 10 years, second-half losses averaged $78 billion. They peaked in 2017 at $164 billion and were lowest in 2015, at $27 billion.

The January Palisades Fire in California was the costliest first-half event, with insured losses estimated at $23 billion, followed by the Eaton Fire the same month, with $17.5 billion in losses, the report said.

Severe convective storm outbreaks March 14 to 16 and May 14 to 16 caused “widespread devastation” across the U.S. Southeast, Midwest and Mid-Atlantic regions, resulting in at least $8 billion each in insured losses.