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Aon pegs global H1 2026 insured catastrophe losses at $47 billion
Aon said severe convective storms, including hail, straight-line winds, and tornadoes, were the costliest insured peril and contributed about $27 billion of the total in the U.S. in H1 2026.
Insured catastrophe losses worldwide in the first half of 2026 are estimated at $47 billion, down sharply from $100 billion last year, according to broker Aon. In its Global Catastrophe Recap Report for the period, Aon said severe convective storms, including hail, damaging straight-line winds, and tornadoes, remained the costliest insured peril globally.
Aon compared its figure with Gallagher Re, which recently estimated that global insured catastrophe losses in H1 2026 would be at least $46 billion. Even with the year over year decline, Aon said the first half still saw an average number of billion-dollar disasters, above-average insured loss events, and several record-setting regional catastrophes.
The broker also pointed to broader economic damage of $111 billion during the period, which it said was 25% below the 21st-century average and the lowest first-half total since 2018. Aon said there were 23 billion-dollar economic loss events, matching the long-term average, and 13 billion-dollar insured loss events, exceeding the historical average of 10.
In the U.S., Aon highlighted a link between tornado activity and insured losses, citing that by mid-year 2026 Illinois was reported to have recorded about four times its long-term average and that both Illinois and Indiana set new annual tornado records. Despite that record tornado activity, Aon said insured losses from U.S. severe convective storms totaled about $27 billion in H1 2026, well below the $40 billion-plus recorded in H1 of 2023 to 2025.