Overview
- Munich Re reported global economic losses of about $224 billion in 2025 and insured losses of $108 billion, lower than 2024 partly because no U.S. hurricane made landfall.
- Floods, severe storms, hail and wildfires accounted for $98 billion of insured losses, signaling that formerly secondary perils are now the primary loss drivers.
- The Los Angeles wildfires led global losses with roughly $53 billion in total damage, including about $40 billion covered by insurance.
- Natural disasters caused about 17,200 deaths worldwide, with around 13,600 in Asia‑Pacific, which saw $73 billion in losses but only $9 billion insured.
- Munich Re said climate change is amplifying extreme events and pointed to a 92% protection gap in Southeast Asia, leaving most losses uninsured.