Catastrophic Weather Drives Insured Losses to Highest Since 2017
- Hurricanes Milton and Helene were last year’s costliest events
- 2025 starts with LA fires estimated to cost over $50 billion
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As 2025 begins with wildfires wreaking devastation across Los Angeles, it’s now clear that insured losses from natural catastrophes last year soared to the highest since 2017.
At $140 billion, insured losses globally were more than double the 30-year average of roughly $60 billion, according to industry data compiled by Munich Re and published in a report on Thursday.