Finance
Costs for climate disasters to reach $145 billion in 2025, says Swiss Re
Published by Global Banking & Finance Review®
Posted on April 29, 2025
1 min readLast updated: January 24, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on April 29, 2025
1 min readLast updated: January 24, 2026
Swiss Re projects $145 billion in insured losses from climate disasters in 2025, driven by events like Los Angeles wildfires and increased risks from climate change.
ZURICH (Reuters) -Hurricanes, storms, floods and other natural disasters may cause $145 billion in insured losses in 2025, nearly 6% up from 2024 and one of the costliest years on record, reinsurance company Swiss Re said in a report on Tuesday.
The year's projected tally of losses from natural catastrophes covered by insurance compares with $137 billion recorded in 2024 and is well above long-term averages.
Swiss Re's report pointed to the wildfires in Los Angeles at the beginning of the year as a major contributor to the projected figure, causing estimated insured losses of $40 billion.
"Underlying risk is increasing continuously with economic and population growth as well as urban sprawl, including in areas vulnerable to natural catastrophes. In addition, climate change effects are playing a role in compounding losses for some weather perils and regions," Swiss Re said in its report.
Total losses from natural catastrophes, including those not covered by insurance, came in at $318 billion in 2024, the report said. That is up from $292 billion in 2023 and significantly above longer-term averages.
(Reporting by Paul Arnold, Writing by Friederike Heine; editing by Matthias Williams)
The article discusses the projected costs of climate disasters in 2025, estimated at $145 billion in insured losses according to Swiss Re.
The projected insured losses for climate disasters in 2025 are $145 billion, nearly 6% higher than in 2024.
Factors include economic and population growth, urban sprawl in vulnerable areas, and the effects of climate change.
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