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US natural catastrophes generated about $36B in insured losses in H1 2026
Aon said 11 US billion-dollar insured events included a late-April to early-May severe convective storm outbreak that produced more than $5 billion in insured losses.
US natural catastrophes produced about $36 billion in insured losses in the first half of 2026, accounting for 75% of global insured losses, according to Aon’s Global Catastrophe Recap: First Half of 2026 report.
Aon said the United States logged 11 billion-dollar insured events during the period, including nine severe convective storm outbreaks and two winter storm events. The report also found that severe convective storm activity, driven by perils such as hail, damaging straight-line winds, and tornadoes, remained the costliest insured peril globally.
Aon highlighted that the US severe convective storm outbreak from April 23 to 29 was the largest single insured catastrophe event of H1 2026, generating more than $5 billion in insured losses. Overall, Aon estimated US severe convective storm activity resulted in roughly $27 billion in insured losses for the first half.
The report noted that while insured losses were below the $40 billion-plus levels seen in each of the first halves of 2023, 2024, and 2025, tornado activity in the Midwest was exceptional, with Illinois recording about four times its long-term average by mid-year and both Illinois and Indiana setting new annual tornado records. Aon also said global economic losses totaled $111 billion across 23 billion-dollar economic loss events, and that loss totals can mask where risk is building when regional impacts hit communities, infrastructure, and supply chains differently.