Climate Catastrophes Drive Record $84 Billion Insurance Losses in First Half of 2025
Climate Catastrophes Drive Record $84 Billion Insurance Losses in First Half of 2025 Global insurance carriers have faced unprecedented challenges in the first six months of 2025, with record-high losses totaling an estimated $84 billion due to raging wildfires and severe storms worldwide. This marks the costliest first half of a year for the insurance industry since 2011, according to a recent report from reinsurance broker Gallagher Re. Weather and climate-related events alone accounted for at least $81 billion of…