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Global insured catastrophe losses total $42bn in first half of 2026

Severe convective storms generated $28bn of the insured losses, while Swiss Re estimated $100bn in total economic losses for the period.

Reported · Written up by our desk · Reinsurance

Swiss Re Institute estimated that global insured losses from natural catastrophe events reached $42 billion in the first half of 2026, the lowest first-half total since 2020 and 16% below the 10-year average.

The estimate came in below competing estimates, with Aon at at least $47 billion and Gallagher Re at at least $46 billion. Swiss Re also projected global economic losses from the same events at $100 billion, down from $152 billion in H1 2025 and 10% below the 10-year average.

Swiss Re said severe convective storms remained the biggest insured-loss driver, producing $28 billion of insured losses. It also noted that US outbreak patterns matter for payouts, because relatively few top events affected Texas, the Southern Plains and the Southeast, areas that typically see the largest insured losses due to high storm activity and dense insured exposures.

On other perils, Swiss Re highlighted that around 42% of first-half economic losses were covered by insurance, above the 30-year average of 33%. The reinsurer pointed to June record heat and persistent dry conditions as catalysts for an active wildfire season, and said Europe now experiences 64% more hot days than in the 1950s, with major fires affecting France and Spain in July.

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