Natural disasters caused $220B economic losses in 2025 — Swiss Re

ZURICH, Switzerland - Global economic losses from natural disasters are projected to have dropped by 33 percent to $220 billion in 2025, despite the damage wrought by the Los Angeles wildfires, reinsurer Swiss Re said Tuesday.

The decrease in the preliminary estimate was attributed to a much less severe hurricane season in the North Atlantic than in 2024, with none of this year's five hurricanes making landfall in the United States, "which explains why insured losses from this peril are set to be low in 2025", Swiss Re, which serves as an insurer of insurance companies, said in a statement. — Agence France Presse