Global insured losses from natural catastrophes during the first nine months of 2025 are estimated to hit US$105 billion, bringing the sixth consecutive calendar year with losses topping US$100 billion and the eighth year since 2017, according to Gallagher Re.
Ironically, there was an uncharacteristic lack of major natural disasters between July and September, which led to one of the least expensive third quarters for insurers since 2000, said Gallagher Re in a report titled “Natural Catastrophe and Climate Report: Q3 2025.”
“The abnormally low frequency of high-cost events has, thus far, left the year