insured catastrophe losses

New data released by the Insurance Council of Australia (ICA) shows that the total insured cost of extreme weather events that impacted Australia in the first half of 2025 has now exceeded AU $1.8 billion, stemming from 148,437 claims.

According to an analysis from reinsurer Swiss Re, a repeat of 2005’s hurricane Katrina hitting in an identical manner using today’s exposure values and protective measures, could drive an insured loss close to $100 billion.

Catastrophe data aggregator PERILS has lowered its estimated insured losses from Cyclone Alfred to AU $2.250 billion, down 12% from the initial loss estimate of AU $2.568 billion issued in April 2025, six weeks after the event.

The final week of May brought a wave of damaging severe convective storms and flooding across the southern United States, with insured losses likely to reach into the billions, according to global insurance and reinsurance broker Aon.

Severe convective storm (SCS) activity across the United States has now cost the insurance and reinsurance industry more than $20 billion in 2025, broker Gallagher Re estimates, with its Chief Science Officer Steve Bowen highlighting that the May 14th to 20th outbreak could drive insured losses of up to $7 billion.

Due to the extensive tornado, hail, and wind damage across the central and eastern United States, global insurance and reinsurance broker Aon has indicated that a recent outbreak could be among the most expensive severe weather events in U.S. history on an inflation-adjusted basis.

A severe weather outbreak across the US midwest over the last few days is likely to have created more than $5 billion in losses for the insurance and reinsurance industry, perhaps making this outbreak the largest severe weather loss event of 2025 so far, according to BMS Group Senior Meteorologist Andrew Siffert.

Global insured losses from natural catastrophes are on trend to hit USD 145 billion in 2025, continuing a steady 5%–7% annual growth trend seen in recent years, according to reinsurance giant Swiss Re.

The ice storm that struck Ontario and Quebec between March 28th and 31st, is estimated to have resulted in an insurance industry loss of CAD $342 million, according to CatIQ, Canada’s insured loss and exposure indices provider.

Bermuda-based insurance and reinsurance companies are projected to incur gross claim losses nearing US$10 billion stemming from the catastrophic wildfires that swept through Southern California in January 2025, as they make payments to help U.S. policyholders and cedants recover, says the Bermuda Monetary Authority (BMA).