Finance
Swiss Re Sees Claims From Natural Catastrophes Rising in 2026
Published by Global Banking & Finance Review®
Posted on March 19, 2026
1 min readLast updated: March 19, 2026
Quick Summary
Swiss Re forecasts insured natural catastrophe losses to climb to roughly $148 billion in 2026, with a severe scenario pushing the figure to $320 billion. In 2025, insured losses were about $107 billion—below trend due to favorable variability, not lower risk.
Swiss Re Expects Natural Catastrophe Insurance Claims to Rise in 2026
Projected Increase in Insurance Claims Due to Natural Catastrophes
Estimated Insured Losses for 2026
ZURICH, March 19 (Reuters) - Insured losses from natural catastrophes are likely to climb to about $148 billion this year, estimates published by reinsurer Swiss Re showed on Thursday.
Potential Severe Scenario
In a severe scenario, insured losses could surge to as much as $320 billion, Swiss Re said. Last year, the insurance industry faced about $107 billion in natural disaster claims.
Expert Commentary on Loss Trends
"The below-trend natural catastrophe losses seen in 2025 are the result of favourable variability rather than any easing of underlying risk," said Balz Grollimund, Swiss Re's Head of Catastrophe Perils.
Basis for 2026 Projections
Swiss Re said its 2026 projections are based on the long-term average for insured losses.
Reporting and Editorial Credits
(Reporting by Marleen Kaesebier, writing by Dave Graham, editing by Thomas Seythal)
Key Takeaways
- •Swiss Re projects a return to long‑term trend, expecting insured natural catastrophe losses of ~$148 billion in 2026.
- •In a severe (‘peak’) year scenario, losses could soar to $320 billion.
- •The relatively low 2025 losses (~$107 billion) reflect favorable weather variability, not a reduction in underlying risk, according to Swiss Re’s Balz Grollimund.
Frequently Asked Questions about Swiss Re sees claims from natural catastrophes rising in 2026
1How much are insured losses from natural catastrophes expected to be in 2026?
Swiss Re estimates insured losses from natural catastrophes could reach about $148 billion in 2026.
2What is the worst-case scenario for insured losses according to Swiss Re?
In a severe scenario, insured losses from natural catastrophes could surge to $320 billion.
3How did natural catastrophe claims in 2025 compare to previous years?
Natural catastrophe losses in 2025 were below trend due to favorable variability, not because of reduced risk.
4What was the total for insured natural disaster claims in 2024?
The insurance industry faced about $107 billion in natural disaster claims last year.
5What are Swiss Re's 2026 projections based on?
Swiss Re's projections for 2026 are based on the long-term average for insured losses.